The picture shows the seats on the west side of the U.S. Capitol. Preparations are currently underway for U.S. President-elect Donald Trump to hold the presidential inauguration ceremony in Washington, D.C., on January 15, 2025.
Fabrizio Bensch | Reuters
Senate Democrats are pushing the president for more transparency Establish a committeeas a wave of cash from company and their billionaire leader Washington, D.C. flooded before president-elect Donald Trump Take office.
“The American people deserve to know how these funds are being used and who they are coming from,” Sen. Catherine Cortez Masto, D-Nev., told CNBC. Re-legislate Strengthen oversight of committees.
“The inauguration of a president of any political party should not be used as an opportunity for personal enrichment or nepotism,” Cortez Masto said.
Her bill would require the inaugural committee to disclose the name and address of every individual or vendor who was paid $200 or more, as well as the purpose of each expenditure.
It also requires the committee to donate unspent funds to a 501(c)(3) charity within 90 days of taking office.
It also expressly prohibits committees from converting donations to personal use or from having donors donate on behalf of others.
U.S. Senator Catherine Cortez Masto (D-NV) attends U.S. Vice President and Democratic presidential candidate Kamala K. Harris gestured while speaking at the rally.
Loren Elliott | AFP | Getty Images
The Inaugural Committee is appointed by the incoming president and handles balls, galas, luncheons, and many other events surrounding the inauguration.
There is no limit on the amount of money a donor can contribute to the committee. Although various committees Donations must be reported There are no binding disclosure requirements for expenditures totaling at least $200 within 90 days of the inauguration.
There’s also little transparency into what happens to the remaining money.
The latest version of the Inaugural Committee Transparency Act was introduced by Sens. Sheldon Whitehouse, D-R.I., D-Md., Chris Van Hollen, D-Md., Ed. Co-sponsored by Ed Markey and Jeff Merkley of Oregon State.
Cortez Masto has introduced the bill in every Congress since 2017, when Trump’s first inaugural committee raised a record-breaking $107 million.
His second inaugural committee has already dwarfed that number and made a fortune. Reportedly $170 million It is expected to ultimately earn approximately $200 million in revenue.
The inaugural committee has become a magnet for millions of dollars in donations as top executives and companies seek to curry favor with Trump before his second term begins.
But with the inauguration just days away, major questions remained Friday about how the committee plans to spend all that money given its limited schedule of festivities. relatively light Compared to other recent inaugurations.
