More than 70 Republicans have urged the party to cut funding for Presidential nominee Donald Trump and instead shift contributions to Senate and House races.

"We believe that Donald Trump's divisiveness, recklessness, incompetence, and record-breaking unpopularity risk turning this election into a Democratic landslide, and only the immediate shift of all available RNC resources to vulnerable Senate and House races will prevent the GOP from drowning with a Trump-emblazoned anchor around its neck," states a draft of the letter to Republican National Committee Chairman Reince Priebus obtained by Politico.

"This should not be a difficult decision, as Donald Trump's chances of being elected president are evaporating by the day."

Former members of congress and former senior party officials are among the signatories of the letter.

The Trump campaign has been hit by a series of high profile controversies in recent weeks, which has seen the billionaire's polling numbers fall in key battleground states and several senior Republicans deserting the party over his comments.

Trump said he was not concerned about the potential funding cuts.

"I mean, if it is true, that's OK too because all I have to do is stop funding the Republican Party," he told Fox News.

"I'm the one raising the money for them," he continued. "In fact, right now I'm in Orlando, I'm going to a fundraiser for the Republican Party. If they want to do that they can save me a lot of time and a lot of energy."