A   A   A

Posted: Monday, 10 December 2012 4:29AM

In shift, Obama accepts corporate funding for inauguration



WASHINGTON (Reuters) - President Barack Obama's inauguration committee is accepting corporate donations to help fund the parade and other events associated with his January 21 inauguration after tapped-out Democratic donors spent huge sums helping him get elected.

The move is a shift for Obama, who did not accept corporate donations for his first inauguration in January 2009.

Aides from the Presidential Inaugural Committee confirmed it would accept money from "individual and institutional" givers to help cover the cost of public events not paid for by taxpayers.

"Our goal is to make sure that we will meet the fundraising requirements for this civic event after the most expensive presidential campaign in history," Addie Whisenant, a committee spokeswoman, said in a statement.

"To ensure continued transparency, all names of donors will be posted to a regularly updated website."

The committee would not accept donations from lobbyists or political action committees (PACs), however, and would not forge sponsorship agreements with people or businesses, she said.

Obama has shifted his position on money in politics before. Earlier this year, despite his opposition to a Supreme Court ruling that allowed outside organizations to spend unlimited amounts in campaign advertising, Obama agreed to allow White House and other high-profile campaign aides to attend fundraisers for a Super PAC designed to support his re-election. Advisers said his shift came as a result of the success of Republican Super PACs.

On Inauguration Day, taxpayers fund the official swearing-in ceremony on Capitol Hill and related congressional lunches, but the inaugural committee must pay for the parade, balls, and other events.

According to fundraising documents linked to a story by the New York Times, donors have been offered perks including tickets to an inaugural ball, seats for the parade, and access to donor receptions for $250,000 in individual donations or $1 million in institutional or corporate contributions.

Perks are also offered for lesser amounts, down to $10,000 per individual and $100,000 per institution.

A committee aide said there would be no limit on the amount of contributions as long as legal guidelines were met.

The festivities on Inauguration Day will be toned down to reflect the still fragile U.S. economy, a committee aide said. A concert will not be held on the National Mall as it was in the lead-up to the ceremony four years ago, and the number of official Inaugural balls will be whittled down.

Story & Photos Copyright 2012 Reuters
Filed Under :  
Topics : Business_FinancePolitics
Social :
Locations : Washington
People : Addie WhisenantBarack Obama

House lawmakers reach deal to revamp immigration


Prospects for passage of a major immigration bill has improved.

House votes to repeal Obamacare for 37th time


The Republican-controlled U.S. House voted to repeal Obamacare in a symbolic move.

Judge to hear insanity defense in theater shooting case


The judge who will hear the murder case against accused James Holmes has agreed to hear arguments.

Boston bombing suspect wrote message in boat


Accused Boston Marathon bomber Dzhokhar Tsarnaev left a handwritten message.

Tornadoes rip through Texas, killing six


At least six people were killed when tornadoes ripped through a stretch of Texas.

As scandals mount, White House springs into damage control


With no sign of an end to three scandals, the White House launched a concerted effort at damage control.

Tax chief forced out in IRS scandal


Steven Miller resigned as the acting head of the Internal Revenue Service.

White House releases Benghazi attack emails


The White House released 100 pages of emails detailing discussion about deadly attacks in Benghazi.

Holder sidesteps lawmakers' questions on AP records seizure


Lawmakers pounded Attorney General Eric Holder with questions.

Accused Cleveland kidnapper plans to plead not guilty


The man charged with holding three women captive and raping them will plead not guilty.

Once a beacon, Obama under fire over civil liberties


Barack Obama has faced accusation after accusation of impinging on civil liberties.

FBI opens criminal probe of IRS


The FBI has opened a criminal probe over the IRS's targeting of conservative political groups.

Attorney General Holder recused himself from AP subpoena


The Attorney General said that he recused himself from the decision to secretly seize telephone records of the Associated Press.

Lower DUI limit to 0.05% blood-alcohol level, NTSB says


The top transportation safety agency voted to recommend a lower blood alcohol limit for drivers.

Russia says CIA agent caught trying to recruit spy


Russia said it had caught an American red-handed as he tried to recruit a Russian intelligence officer.