With eyes on the White House, Trump just struck a big money deal with the Republican Party AP Photo/Kevin Hagen

Presumptive GOP nominee Donald Trump and the Republican National Committee have struck a deal. The joint fundraising agreement allows individual donors to give as much as $449,400. That amount is significantly higher than the $2,700 cap on what the Trump campaign can accept.

It’s expected the general election will cost more than $1 billion.

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Under the terms of the agreement, announced late Tuesday, Trump’s campaign and the RNC will raise money for two joint fundraising committees: Trump Victory and Trump Make American Great Again.

The Trump Victory committee will raise money for the RNC, the campaign, and 11 state committees. Meanwhile, the Trump Make America Great Again committee will send funds to the RNC and Trump camp only.

After all-but-claiming the Republican Party’s nomination earlier this month, Trump said he would move to fundraising for the general election. Trump had largely self-funded his primary campaign. He’s expected to continue selling merchandise on his website, which has garnered him $12 million so far.

RELATED: Donald Trump has promised to “self-fund” his campaign, but will that change?

In contrast, Trump’s presumed general election rival, Hillary Clinton, raised more than $213 million by the end of April, not including the money her super PACs have raised.

(H/T Wall Street Journal)

Yolanda R. Arrington is a content editor for Rare. Tweet her @iamyolanda and like her on Facebook.
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