Shining a Light on Presidential Inaugural Committees
As the presidential inauguration approaches, a tidal wave of corporate cash and billionaire donations is flooding Washington, D.C. In response, Senate Democrats are pushing for greater transparency from presidential inaugural committees.
A Call for Accountability
Senator Catherine Cortez Masto (D-Nev.) has reintroduced legislation to strengthen oversight of these committees, ensuring that the American people know exactly how funds are being spent and who they come from. “The inauguration of a president should not be used as an opportunity for personal enrichment or cronyism,” Cortez Masto emphasized.
Strengthening Disclosure Requirements
The proposed bill would require inaugural committees to disclose the name and address of every person or vendor receiving $200 or more, as well as the purpose of each expenditure. Additionally, unspent funds would need to be donated to a 501(c)(3) charity within 90 days of the inauguration. The bill would also explicitly prohibit committees from converting donations to personal use or allowing donors to contribute on behalf of someone else.
Lack of Transparency in Current System
Inaugural committees, appointed by incoming presidents, handle the various events surrounding the inauguration ceremony. While there is no limit to donations, the committees only need to report donations totaling at least $200 within 90 days after the ceremony. There are no binding disclosure requirements for expenditures, and little transparency about what happens to leftover funds.
A Growing Concern
Cortez Masto has introduced this bill in every Congress since 2017, following President-elect Donald Trump’s first inaugural committee, which raised a record-breaking $107 million. His second inaugural committee has already surpassed that figure, with a reported $170 million and projected to reach $200 million. As top CEOs and companies seek to build relationships with Trump before his second term, the inaugural committee has become a magnet for million-dollar donations.
Questions Remain
With the inauguration just days away, significant questions remain about how the committee plans to spend its massive funds, given the relatively light schedule of festivities compared to other recent inaugurations.
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