Former GOP donor says he's using tax-cut money to fight Trump admin policies, elect Dems
© Greg Nash

A billionaire hedge fund manager and former major GOP donor is tearing into Republicans, saying he is planning to use money from the GOP tax cuts to elect Democrats.

“I received a tax cut I neither need nor want,” Seth Klarman told The Boston Globe.

“I’m choosing to invest it to fight the administration’s flawed policies and to elect Democrats to the Senate and House of Representatives.”

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Klarman said Republicans in Congress have failed to hold President TrumpDonald John TrumpFamily immigration detention centers could be at capacity within days: report Trump likely to meet with Putin in July: report DOJ requests military lawyers to help prosecute immigration crimes: report MORE accountable. He added that GOP lawmakers have "abandoned their historic beliefs and values."

“For the good of the country, the Democrats must take back one or both houses of Congress," he said.

According to the Globe, Klarman has given about $222,000 to 78 Democrats running for Congress since the 2016 elections.

 
He has also given money to several nonprofits advocating for issues like gun control and protecting the environment.
 
Klarman, the CEO of Boston's Baupost Group, a hedge fund with $30 billion in assets, is a registered independent, according to the Globe.
 
During the Obama administration, he donated more than $7 million to Republican candidates and political committees.
 
Last year, Klarman criticized Trump at an investment conference, calling him a "threat to democracy." During the 2016 presidential race, he pledged to support Clinton and called Trump "shockingly unacceptable," according to Reuters.