USA Presidential Inauguration Set to be Low Key: Unprecedented Limits on Fundraising

WASHINGTON – President-elect Barack Obama and Vice President-elect Joe Biden’s Inaugural Committee outlined plans today for an inauguration that will underscore their commitment to change business as usual in Washington and ensure that as many Americans as possible, both inside and outside Washington, will be able to come together to unite the country and celebrate our common values and shared aspirations.

The Presidential Inaugural Committee (PIC) announced today that it will abide by an unprecedented set of limitations on fundraising as part of President-elect Obama’s pledge to put the country on a new path. Unlike previous inaugural committees, the PIC will not accept contributions from corporations, political action committees, current federally-registered lobbyists, non-U.S. citizens and registered foreign agents.

The PIC will not accept individual contributions in excess of $50,000. Current law does not restrict the size of donations. In past inaugurations, contribution limits have run as high as $250,000. In accordance with the Committee’s commitment to provide the most open and accessible inauguration in history, the PIC is working with relevant authorities to open up as much of the National Mall as possible to accommodate more Americans than ever before.

The Committee is headed by a bipartisan group of co-chairs: William Daley, Penny Pritzker, John Rogers, Patrick Ryan and Julianna Smoot, who said today they intend to deliver on President-elect Obama’s commitment to organize an inauguration that will rally all Americans to meet the great challenges of our time: “It is a distinct honor to chair the committee that will organize the celebration of next year’s historic inauguration of Barack Obama and Joe Biden.

We are committed to ensuring that these activities are organized in a way that reflects the American people’s common values, shared aspirations and commitment to addressing our challenges as one, united nation,” they said in a joint statement.

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