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WHEN: Today, Wednesday, August 3rd
WHERE: CNBC's "Squawk on the Street"
Following is the unofficial transcript of a CNBC EXCLUSIVE interview with Trump National Finance Chairman Steven Mnuchin on CNBC's "Squawk on the Street" (M-F, 9AM-11AM ET) today, Wednesday, August 3rd following the announcement that the Trump campaign raised $80 million in July. Following is a link to the interview on CNBC.com: http://video.cnbc.com/gallery/?video=3000540139.
All references must be sourced to CNBC.
SOUND FROM DONALD TRUMP: I BELIEVE IT'S 517,000 DONORS. THINK OF THAT, THAT'S IN A MONTH. SO WE RAISED $35.8 MILLION, EVEN A LITTLE MORE THAN THAT. AND THE AVERAGE PRICE OF THE DONATION WAS $69. HOW INCREDIBLE IS THAT, RIGHT?
SARA EISEN: THAT OF COURSE WAS REPUBLICAN NOMINEE DONALD TRUMP ON MONDAY TALKING ABOUT HIS CAMPAIGN'S JULY CASH HAUL, BUT THE CAMPAIGN JUST RELEASING ITS OFFICIAL JULY FUND-RAISING FIGURES, NOW SAYING IT RAISED $80 MILLION FOR THE MONTH AND JOINING US TO DISCUSS THESE NUMBERS EXCLUSIVELY, NATIONAL FINANCE CHAIRMAN FOR THE TRUMP CAMPAIGN, STEVEN MNUCHIN. STEVEN, THANK YOU SO MUCH FOR JOINING US. SO GIVE US A LITTLE COLOR AND CONTEXT ON THESE NUMBERS. DOES THIS INCLUDE, FOR INSTANCE, THE RNC? AND BREAK IT DOWN. SMALL DONORS, BIG DONORS, NEW DONORS – WHAT ARE YOU SEEING?
STEVEN MNUCHIN: RIGHT. WELL FIRST OF ALL, THANK YOU. IT'S GREAT TO BE HERE WITH YOU THIS MORNING AND WE'RE SUPER EXCITED ABOUT THE NEWS. THE TOTAL RAISED FOR THE MONTH WAS $80 MILLION. THE NUMBER THAT DONALD MENTIONED EARLIER IN THE WEEK WAS JUST OUR DIGITAL NUMBER. SO THIS NUMBER INCLUDES $64 MILLION OF SMALL DOLLAR DONATIONS AND $16 MILLION OF DONATIONS WITH THE RNC. SO THAT'S UP FROM $51 MILLION LAST MONTH TO $80 MILLION THIS MONTH. HUGE, HUGE INCREASE. OVER A MILLION UNIQUE DONORS. I THINK THIS JUST SHOWS THE INCREDIBLE GROUND SUPPORT THERE IS FOR DONALD TRUMP OUT THERE.
EISEN: DID IT COME OFF THE HEELS OF THE REPUBLICAN NATIONAL CONVENTION? AND CAN YOU GIVE SOME MORE SPECIFICS AS TO WHAT YOU SAW AT THE END OF JULY AND INTO EARLY AUGUST HERE AS THE POLL NUMBERS STARTED SLIPPING?
MNUCHIN: WELL I THINK THIS IS – OUR NUMBERS HAVE BEEN HUGE IN THE LAST WEEK, THEY'VE BEEN BIG INTO THE CONVENTION AND OUT OF THE CONVENTION. THERE'S JUST AN INCREDIBLE AMOUNT OF SUPPORT AND WE'LL END THE MONTH WITH $74 MILLION IN CASH BETWEEN THE CAMPAIGN AND THE JOINT FUND-RAISING. SO A LOT OF CASH IN THE BANK.
EISEN: IT LOOKS LIKE HILLARY CLINTON AND THE DEMOCRATS MANAGED TO RAISE $90 MILLION, WHICH IS ABOVE THE TRUMP NUMBERS, STILL THAT GAP IS NARROWING. BUT THERE ARE PERSISTENT CONCERNS ABOUT THE DEFICIT IN FUND-RAISING ON THE TRUMP CAMP VERSUS THE DEMOCRATS. WHAT DO YOU SAY TO THAT?
MNUCHIN: WELL, I DON'T KNOW WHY ANYBODY IS CONCERNED ABOUT THIS. I MEAN, FIRST OF ALL, THEY'VE BEEN DOING THIS OVER TEN YEARS. WE'VE BEEN DOING IT TWO MONTHS. SO IT'S PRETTY INCREDIBLE THAT WE'RE AT 80 AND THEY'RE AT $90 MILLION AND THEY'RE OBVIOUSLY SPENDING A LOT MORE MONEY THAN WE ARE. SO A LOT OF CASH IN THE BANK AND A LOT OF EXCITEMENT GOING INTO THE ELECTION.
EISEN: HOW DEPENDENT IS TRUMP AND ARE YOU GUYS RIGHT NOW ON THE REPUBLICAN NATIONAL COMMITTEE FOR FUND-RAISING? AND I ASK BECAUSE THERE'S SOME SERIOUS QUESTIONS ABOUT THE COHESION OF THE REPUBLICAN PARTY RIGHT NOW, ESPECIALLY WITH TRUMP SIGNALING DOUBTS ABOUT SUPPORTING HOUSE SPEAKER PAUL RYAN FOR RE-ELECTION.
MNUCHIN: I THINK THERE'S PLENTY OF SUPPORT WITHIN THE PARTY AND WITHIN THE RNC. THEY COULDN'T BE MORE HELPFUL TO WHAT'S GOING ON. AND DONALD SAID ALL ALONG A LOT OF THE FUND-RAISING HE'S DOING WITH THE RNC IS SPECIFICALLY TO HELP THE PARTY AND EVERYBODY ON THE TICKET.
EISEN: WHAT'S GOING ON INSIDE THE CAMPAIGN? JOHN HARWOOD, OUR WASHINGTON CORRESPONDENT, REPORTING, TWEETING THAT AN ALLY OF PAUL MANAFORT SAYS THAT, "MANAFORT IS NOT CHALLENGING TRUMP ANYMORE, MAILING IT IN, STAFF SUICIDAL." WHAT'S REALLY GOING ON INSIDE?
MNUCHIN: AGAIN, I THINK THIS IS ALL STUFF THAT THE PRESS IS JUST MAKING UP AND TALKING ABOUT. I WAS AT CAMPAIGN HEADQUARTERS ALL DAY FOR THE LAST TWO DAYS. PEOPLE COULD NOT BE MORE EXCITED ABOUT WHAT'S GOING ON. DONALD'S ON THE ROAD TODAY, I'M MEETING HIM LATER IN THE WEEK AND THIS WEEKEND AT FUND-RAISING EVENTS. THERE'S A LOT OF EXCITEMENT, THERE'S A LOT OF GROUND SUPPORT FOR THIS CAMPAIGN.
DAVID FABER: STEVE, WHERE IS MR. TRUMP IN TERMS OF HIS CONTRIBUTIONS TO HIS CAMPAIGN AND HOW MUCH OF THAT WILL BE REIMBURSED?
MNUCHIN: AGAIN, HE CONTRIBUTED ANOTHER $2 MILLION THIS MONTH. WE DID ANOTHER $2 MILLION MATCH, WHICH WAS VERY EXCITING FOR THE ONLINE. THAT BRINGS HIS TOTAL COMMITMENTS UP TO OVER $56 MILLION. AND HE IS REQUIRED TO – OR THE CAMPAIGN IS REQUIRED TO REIMBURSE HIM FOR USE OF AIRCRAFT AND OTHER THINGS. AND THE $2 MILLION FAR SUPPORTS IS IN EXCESS OF HIS REIMBURSEMENTS. SO EFFECTIVELY, HE'S PAYING FOR ALL THESE THINGS HIMSELF OUT OF HIS POCKET AND MAKING A CAMPAIGN CONTRIBUTION IN ADDITION TO THAT. AND IT'S ONLY BECAUSE OF THE FEDERAL ELECTION COMMITTEE RULES THAT WE DO IT THIS WAY AS REIMBURSEMENTS.
FABER: YOU KNOW, WHEN IT COMES TO CONTRIBUTIONS, SOME PEOPLE ARE VERY CURIOUS TO SEE WHERE ELSE HE'S CONTRIBUTED, NAMELY CHARITABLE AND THE LIKE. AND OF COURSE, WE WOULD IF HE WAS WILLING TO RELEASE HIS TAX RETURNS. ARE YOU – ANY THOUGHTS FROM YOU ON THAT AND HIS UNWILLINGNESS TO DO SO?
MNUCHIN: AGAIN, I'M NOT REALLY SURE WHAT THE RELEVANCE TO THE AMERICAN PEOPLE IS OF HIS TAX RETURNS. HE'S RELEASED A BALANCE SHEET, HE'S RELEASED INFORMATION. PEOPLE HAVE THE UNDERSTANDING OF WHAT HIS FINANCIAL SITUATION IS. I THINK IT'S VERY CLEAR. AND HE'S CONTRIBUTED A LOT TO THE CAMPAIGN. AND AGAIN, I THINK THAT'S ANOTHER STORY THAT'S JUST NOT REALLY RELEVANT TO THE AMERICAN PEOPLE AND WE SEE THAT IN WHAT'S GOING ON FROM THE HUGE GROUND SUPPORT WE'RE GETTING.
FABER: BUT YOU KNOW, I MEAN, IN THE LAST 40 YEARS, EVERY CANDIDATE HAS DONE SO. AT LEAST SINCE 1976. IT'S CERTAINLY NOT A RULE, BUT IT IS SOMETHING THAT SEEMS TO HAVE BEEN FOLLOWED BY EVERY CANDIDATE AND CERTAINLY SOME WOULD ARGUE THAT THEY WANT TO AT LEAST UNDERSTAND EXACTLY WHERE HIS MONEY COMES FROM.
MNUCHIN: I UNDERSTAND THAT AND LOOK, DONALD TRUMP HAS DONE A LOT OF THINGS DIFFERENT THAN OTHER PEOPLE. IT'S THE FIRST TIME WE'VE HAD AN OUTSIDER OUT OF WASHINGTON BE THE NOMINEE AND HE WOULD BE IN GREAT SHAPE TO TAKE OVER AS PRESIDENT. AND I THINK YOU SEE THE AMERICAN PEOPLE ARE VERY HAPPY WITH THAT AND SUPPORTING IT. THERE IS TREMENDOUS SUPPORT OUT THERE. THERE'S A LOT OF CASH IN THE CAMPAIGN AND I THINK WE'RE EXCITED ABOUT WHERE THINGS ARE GOING.
MIKE SANTOLI: STEVE, YOU MENTIONED YOU'VE ONLY BEEN DOING THIS FOR ABOUT A COUPLE MONTHS. WHAT DOES THAT MEAN FOR THE CAMPAIGN SPENDING PRIORITIES? DO YOU ACTUALLY HAVE A PLAN? DO YOU HAVE AD BUDGETS? HOW IS THIS GOING TO BE DEPLOYED?
MNUCHIN: OUR NUMBER ONE FOCUS IS ON THE GROUND GAME. AND I THINK THAT'S WHAT'S CRITICAL. WE'RE WORKING VERY CLOSELY WITH THE RNC. WE HAVE OVER 750 PEOPLE IN THE FIELD WITH THE RNC. AND ABOUT 5,000 VOLUNTEERS THAT ARE BEING TRAINED AND GEARED UP. THAT'S THE NUMBER ONE THING. THIS CAMPAIGN IS FOCUSED ON SOCIAL MEDIA, FREE TV. THERE WILL BE SOME PAID ADS, BUT THIS IS NOT A CONVENTIONAL CAMPAIGN. AND I THINK THIS IS REALLY THE AMERICAN PEOPLE WANT TO HEAR ABOUT SECURITY, THEY WANT TO HEAR ABOUT THE ECONOMY, THEY'RE NOT HAPPY WITH THE LOW GDP NUMBERS, AND THE PEOPLE UNDERSTAND THAT. SO THE NUMBER ONE FOCUS FOR THE CAMPAIGN BUDGET IS GET PEOPLE OUT TO VOTE, MAKE SURE THE GROUND CAMPAIGN IS THERE.
EISEN: ON THE ECONOMY AND ON BUSINESS ROLE IN THIS ELECTION, YOU'RE A BUSINESS GUY, HOW DO YOU FEEL ABOUT LONG-TIME REPUBLICAN MEG WHITMAN FROM SILICON VALLEY, VERY VOCALLY AND PUBLICLY NOW BACKING HILLARY CLINTON AND CALLING DONALD TRUMP A DANGEROUS DEMAGOGUE? EXPECTING MORE DEFECTIONS HERE FROM THE PARTY.
MNUCHIN: YOU KNOW, AGAIN, PEOPLE HAVE THE RIGHT TO BACK WHO THEY WANT TO BACK, OKAY. WE HAVE LOTS OF BUSINESS PEOPLE, WILBUR ROSS, TOM BARRACK, OTHERS WHO ARE SUPPORTING THIS. I THINK THE AMERICAN PUBLIC UNDERSTANDS THE ECONOMY IS NOT IN GOOD SHAPE. WE NEED A PRESIDENT THAT'S GOING TO BE FOCUSED ON GROWTH. WE HAVE A TAX PLAN THAT'S GOING TO BE FOCUSED ON GROWTH. WE ARE VERY FOCUSED ON LOWERING BUSINESS TAXES, MAKING SURE THAT U.S. CORPORATIONS ARE COMPETITIVE AROUND THE WORLD, BRINGING BACK CASH FROM ALL AROUND THE WORLD THAT'S SITTING OFFSHORE, AND I THINK THE AMERICAN PUBLIC IS FOCUSED ON THAT.
EISEN: WE ALSO NEED A STRONG TREASURY SECRETARY. ON JULY 20th, YOU SAID, "THERE'S NO DECISION THAT'S BEEN MADE AND YOU'RE HONORED TO BE CONSIDERED." DO YOU HAVE ANY UPDATE ON MR. TRUMP'S CONSIDERATION OF THIS VERY IMPORTANT JOB?
MNUCHIN: AGAIN, YOU KNOW, I WAS WITH HIM YESTERDAY AND HIS NUMBER ONE FOCUS IS WINNING THIS ELECTION. HE'S NOT FOCUSED RIGHT NOW ON WHO'S IN ANY POSITION. I WOULD BE HONORED TO SERVE IN ANY CAPACITY WITH HIM. HE AND THE REST OF THE CAMPAIGN IS FOCUSED ON LESS THAN 100 DAYS LEFT TO THIS ELECTION.
EISEN: ALL RIGHT. THANK YOU FOR JOINING US, STEVEN, WITH THOSE BREAKING CAMPAIGN NUMBERS. STEVEN MNUCHIN FROM THE TRUMP CAMPAIGN. RAISING ABOUT $80 MILLION DURING THE MONTH OF JULY.
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