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Billionaire Democratic megadonor launches Trump impeachment campaign

CNBC logo CNBC 10/20/2017 Jacob Pramuk

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Billionaire investor and Democratic backer Tom Steyer has launched a national campaign calling for Donald Trump's impeachment, only nine months into the president's term. 

Steyer started the "Need to Impeach" initiative on Friday with an ad calling on Americans to urge their members of Congress to vote the president out of office. In a statement, the organization said it would launch an "eight-figure" television ad purchase and a "seven-figure" digital buy.

Steyer in a video called Trump "a clear and present danger who is mentally unstable and armed with nuclear weapons." He accuses the president of taking the U.S. "to the brink of nuclear war" and obstructing justice by firing former FBI Director James Comey, among other charges.

The former hedge-fund manager is funding the impeachment campaign, according to its website.

A White House spokeswoman and a spokesman for Steyer's initiative did not immediately respond to a request for comment.

Steyer, 60, founded the hedge fund Farallon Capital before retiring in 2012. He then launched NextGen America, a political organization that supports liberal positions on climate change, immigration and health care, among other issues.

Steyer has funneled millions of dollars into Democratic candidates and causes.

Trump's impeachment appears highly unlikely currently. His Republican Party controls both chambers of Congress.

Even Democratic congressional leaders have shown no interest in impeaching Trump yet.

Rep. Al Green, D-Tex., has introduced articles of impeachment against Trump, though those will not gain traction currently.

In a letter earlier this month, Steyer urged Democratic lawmakers and candidates to support an impeachment of Trump.

<span style="font-size:13px;">Billionaire investor and Democratic backer Tom Steyer.</span>© Manuel Balce Ceneta/APBillionaire investor and Democratic backer Tom Steyer.
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