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Photo: Nicholas Kamm/AFP via Getty Images

President Trump has created a new political action committee as he refuses to concede to President-elect Joe Biden, according to a filing with the Federal Election Commission.

The big picture: The committee, called "Save America," will receive 60% of donations sent to the Trump campaign and the Republican National Committee's joint fundraising effort, according to a Trump campaign website. The federal fundraising apparatus will potentially help the president "retain his hold on the Republican Party even after he leaves office," writes the New York Times, which first reported the story.

  • The entity is known as a leadership PAC, which can receive donations of up to $5,000 annually per donor. But it can collect money from an unlimited number of people, and it can also receive funds from other PACs.
  • It will also be used to help other candidates. Politicians usually form such committees "to support candidates for federal and nonfederal offices," according to the FEC website.

What they're saying: Trump planned to establish the PAC whether he won or lost the election, Trump campaign spokesperson Tim Murtaugh told the Times, “so he can support candidates and issues he cares about, such as combating voter fraud.”

Go deeper

Murkowski: "It is time to begin the full and formal transition process"

Murkowski leaves the Senate Republicans lunch in September. Photo: Bill Clark/CQ-Roll Call, Inc via Getty Images

Sen. Lisa Murkowski (R-Alaska) tweeted Sunday, "It is time to begin the full and formal transition process." She called Trump's attempts to overturn President-elect Biden's win "inconsistent with our democratic process."

Why it matters: Only a handful of congressional Republicans have acknowledged Biden as president-elect as Trump and his campaign continue unsuccessful legal challenges in key swing states.

Updated 6 mins ago - Politics & Policy

The top Republicans who have acknowledged Biden as president-elect

Photo: Tasos Katopodis/Getty Images

Some elected Republicans are breaking ranks with President Trump to acknowledge that President-elect Biden won the 2020 presidential election.

Why it matters: The relative sparsity of acknowledgements highlights Trump's lasting power in the GOP, as his campaign moves to file multiple lawsuits alleging voter fraud in key swing states — despite the fact that there have been no credible allegations of any widespread fraud anywhere in the U.S.

Nov 22, 2020 - Politics & Policy

GOP Sen. Kevin Cramer: Transition should start "tomorrow morning"

Sen. Kevin Cramer (R-N.D.) said on "Meet the Press" on Sunday that it is past time to "cooperate with the transition" to President-elect Joe Biden, adding that he believes President Trump still has the right to continue fighting in court over election results.

Driving the news: Trump has refused to allow the transition process to begin as he has sought to discredit the election results in swing states across the country — baselessly alleging mass voter fraud.