Conservative donors back Pence's nonprofit to promote free-market capitalism to young Republicans

Conservative backers are allegedly channeling tens of millions of dollars into Advancing American Freedom, the 501(c)(4) organization founded by former Vice President Mike Pence in April 2021. The group is planning a multi-year campaign to convince Republican officials and candidates of the value of free-market capitalism, a move that coincides with internal party disputes over the future role of capitalism in the GOP platform.

While the nonprofit does not have to reveal its donors, prior reports indicate that it has received at least one $2 million gift and another of $1 million. Advancing American Freedom projected a $35 million budget by 2023 and now aims to extend its influence through the 2028 election cycle. The fundraising push comes as younger Republicans express frustration with traditional economic approaches and as the party grapples with issues such as affordability and cost-of-living debates.