Corporations allowed to donate to Obama’s inauguration event, says White House
Washington, DC, United States (4E) – The White House said on Friday that the committee for President Obama’s inauguration will begin accepting donations from corporations, a reverse from their policy in 2008.
Mindful of the country’s current economic state, the White House said that the committee does not want to show opulence and prefers scaled-down activities compared to the inauguration four years ago.
The 2013 Presidential Inaugural Committee said that it is open to unlimited money from corporate and individual donors, but not from political action committees (PACs) or lobbyists and no sponsorship agreements are allowed.
The panel has yet to announce a schedule but during a conference call on Friday, officials said that there would be just three inaugural balls — a candlelight ball for the president’s national finance committee, a ball for the military personnel and a huge presidential ball. Sources say that the number is significantly down from the 10 official balls hosted in 2009.
Committee spokeswoman Addie Whisenant said that the goal is to meet the the fundraising requirements for the event following a presidential campaign that is the most expensive in history.
The committee have already sent donors a formal invitation that include details on how to access the reception and parties based on the amount they want to contribute. The most exclusive access are for individuals with at least $250,000 contribution or institutions with at least $1 million donation.