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.”


Klarman said Republicans in Congress have failed to hold President TrumpDonald John TrumpNew Bob Woodward book will include details of 25 personal letters between Trump and Kim Jong Un On The Money: Pelosi, Mnuchin talk but make no progress on ending stalemate | Trump grabs 'third rail' of politics with payroll tax pause | Trump uses racist tropes to pitch fair housing repeal to 'suburban housewife' Biden commemorates anniversary of Charlottesville 'Unite the Right' rally: 'We are in a battle for the soul of our nation' 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.