Powered by Topple

Shortage of corporate donors for Obama’s inauguration

Powered by Topple

2013 inauguration logoOnly seven companies have ponied up cash to help fund President Barack Obama’s upcoming inaugural festivities.

The Inauguration Committee’s website lists about 400 “benefactors” under the heading: “In keeping with the 2013 Presidential Inaugural Committee’s commitment to transparency, we will regularly post the names of contributors to the 57th Presidential Inauguration. Check this page for future updates.”

NewsMax reports the following about the corporate donors:

So far, though, the only corporate donors are AT&T, Microsoft, Centene, Financial Innovations, Genentech, Stream Line Circle, and Whittier Trust Co.

While some of the companies aren’t as well-known as AT&T and Microsoft, they’re still powerful in their own right. Genentech is a biotechnology company owned by Swiss drugmaker Roche, while Stream Line Circle is owned by billionaire Obama backer and gay-rights activist Jon Stryker, and Centene is a Medicaid administration company that is profiting highly through Obamacare, reports the Washington Post.

Financial Innovations, meanwhile, earned $1.8 million in business through making promotional products used in Obama’s 2012 campaign, the Post reports.

Each person has contributed at least $200 according to the report, however the website doesn’t list amounts contributed. While donations were capped at $50,000 in 2009, as much as $250,000 will be accepted this year, but not from lobbyists, political action committees or foreign donors.

Read the entire report here.

You may also want to read:

Obama to Boehner: ‘We don’t have a spending problem’

Dem’s new mantra: We’re not done raising taxes


Latest Articles