A photo of seats on the west front of the U.S. Capitol building as preparations progress for the inauguration ceremony of U.S. President-elect Donald Trump on January 15, 2025 in Washington, USA.
Fabrizio Bensch | Reuters
Senate Democrats are seeking greater transparency from the Presidential Inaugural Committee as a wave of cash from corporations and their billionaire leaders floods Washington, D.C., ahead of President-elect Donald Trump’s inauguration.
“The American people have a right to know exactly how these funds are being spent and who they are coming from,” Sen. Catherine Cortez Masto, D-Nevada, said in a statement to CNBC. reintroduction of law Strengthen committee oversight.
“The presidency of any political party should not be used as an opportunity for personal enrichment or cronyism,” Cortés Masto said.
His bill would require the launch committee to disclose the names and addresses of all individuals or vendors who received compensation of $200 or more and the purpose of each expenditure.
The committee would also be required to donate unused funds to a 501(c)(3) charity within 90 days of inauguration.
It would specifically prohibit the committee from converting donations for personal use or allowing donors to donate on behalf of others.
U.S. Sen. Catherine Cortez Masto (D-Nevada) speaks while gesturing at a rally for U.S. vice president and Democratic presidential candidate Kamala Harris on October 31, 2024 in Reno, Nevada.
Lauren Elliott AFP | Getty Images
The inaugural committee is appointed by the president-elect and handles the ball, gala, luncheon, and many other events associated with the inauguration.
There is no limit to the amount that donors can donate to the committee. While the committee is in session, Must report donations There are no binding disclosure requirements for expenditures that total $200 or more within 90 days after the inauguration.
There’s also little transparency about what happens to the remaining money.
The latest version of the Inaugural Committee Transparency Act was published by Sens. Sheldon Whitehouse, D.R.I., Chris Van Hollen of Maryland, Ed Markey of Massachusetts, and Jeff of Oregon. -Co-sponsored by Senator Merkley.
Cortez Masto has introduced the bill in every Congress since 2017, since President Trump’s first inaugural committee raised a record-breaking $107 million.
His second inaugural committee has already dwarfed that number. Reported at $170 million The final value is expected to be around $200 million.
The inaugural committee has become a magnet for millions of dollars in donations as top CEOs and companies seek to approach President Trump ahead of the start of his second term.
But on Friday, just days before the inauguration, how the committee plans to spend all that money, given the relatively light schedule of celebratory events compared to other recent inauguration ceremonies. There remained serious doubts about this.
