WASHINGTON — President Donald Trump’s super PAC war chest grew to nearly $404 million after getting $3 million in donations and interest payments in July, but it spent nothing that month to boost the prospects of Republican candidates in the midterm elections.

MAGA Inc.’s total cash-on-hand — built on donations from billionaires including Las Vegas Sands Corp. owner Miriam Adelson, quant trader Jeff Yass and venture capitalist Marc Andreessen — is the most among federal fundraising committees, according to the latest filings posted late Thursday by the Federal Election Commission.

Last month the super PAC’s savings grew thanks to a $1.4 million donation from a subsidiary of private prison operator GEO Group Inc. and $1 million from sugar producer Florida Crystals Corp. Its deposits in a JPMorgan Chase & Co. bank account accrued another $610,000, according to the filing.

The latest filing also shows that MAGA Inc. spent just $132,000 in July, mostly on operating costs, compliance professionals, fundraising and bank charges. It paid more than $24,000 to the Trump National Golf Club near Washington for a fundraising event.

With the midterm elections less than 80 days away and Republican Party committees outraising their Democratic Party counterparts, the cash hoard looms as a potent weapon to aid GOP lawmakers in competitive races. But MAGA Inc. has so far spent just $2.3 million, or 0.6% of its savings, to influence elections on behalf of Republican candidates this cycle.

Despite the fundraising gap, polls show Americans frustrated with Trump’s management of the economy and the war with Iran, leaving Democrats favored to retake control of the House of Representatives in November. They would need to flip four seats to take the Senate.

Trump said in an interview with Punchbowl News published Aug. 7 that he intends to use MAGA Inc.’s money to boost Republicans. But as of July 31, the last day the FEC filing covers, he had yet to sign off on a plan to deploy its spending.

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