This article explores the financial aspects of Donald Trump's upcoming inauguration, including how costs are divided between private donations and federal funds. It also highlights the record-breaking fundraising efforts and the role of prominent corporations and individuals in contributing to the event. Additionally, the article mentions the entertainment lineup for the inauguration festivities.
Donald Trump 's first inauguration in 2017 was estimated to cost as much as $200 million. Organised events typically include the swearing-in ceremony at the U.S. Capitol, as well as the official congressional luncheon for the new president and vice-president. After Election Day, the President-elect appoints the Presidential Inaugural Committee, which, this year, is being co-chaired by real estate developer and investor Steve Witkoff and former senator Kelly Loeffler.
The committee oversees functions and activities connected with the ceremony -- including opening ceremonies, the parade if one is held, galas and balls. So, Inauguration Day costs are divided by what the committee pays for via donation and what the federal government pays for via taxpayers. Trump, as of January 8, reportedly had raised more than $170 million for his upcoming inauguration, eclipsing the record of nearly $107 million he set in 2017. The Associated Press reported that Trump’s inaugural committee is expected to raise more than $200 million by the end of the effort. That total would exceed the cost of Trump’s 2017 inauguration, which had an estimated price of $175 million to $200 million. Trump’s committee later faced legal action when a lawsuit alleged it overpaid for events at Trump’s hotel and enriched his family in the process. Trump’s businesses and committee in 2022 were scrutinized by the New York Times, reporting there are no limits on contributions to an inaugural committee. Foreign nationals are prohibited from making donations to the inaugural committee. The names of those who donate $200 or more must be reported to the Federal Election Commission by 90 days after the inauguration, per The Washington Post. Jen Ellis, the Vermont crafter behind Bernie Sanders’ mittens in the iconic photo taken at President Biden’s inauguration in January 2021, shares how the viral moment has changed her life. Amazon and Meta, the parent company of Facebook and Instagram, said last month they were each planning to donate $1 million to Trump’s inaugural fund. OpenAI CEO Sam Altman also said he was planning to make a $1 million personal donation. That drugmaker Pfizer, telehealth company Hims & Hers and the tax service Intuit each donated $1 million. The stock trading app Robinhood, per the report, contributed $2 million. All combined, they have helped give Trump’s committee a record-breaking amount of funds to use for Inauguration Day festivities. Money leftover from the committee is expected to be used toward a future Trump presidential library, according to The Associated Press.The Trump Vance Inaugural Committee has announced the entertainment lineup for this weekend’s inauguration events. Here’s the list of musical acts and where they’re expected to perform
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