(Image Source: Obama for America)

BY ROBERT ABEL

President Obama has changed his policy regarding corporate funds and will be accepting unlimited corporate donations for his 2013 Inauguration. WILX has more.

“Politico is reporting the change comes because the election was so expensive that donors are tapped out and it would be hard to raise millions in just a few weeks”

Obama’s first inauguration was financed by contributions limited to individual donations of up to $50,000. The committee has said that the activities surrounding the event will be smaller and that the change is necessary.

“Our goal is to make sure that we will meet the fund-raising requirements for this civic event after the most expensive presidential campaign in history,” the spokeswoman, Addie Whisenant, said in a statement, adding that donors’ names would be posted on a Web site “to ensure continued transparency.”

(AOC)
The change hasn’t come without its fair share of criticism. Former Mitt Romney campaign advisor and Republican National Committee Member Jim Bopp told The Daily Beast...

“It just demonstrates all this rhetoric that we’ve had to endure about corporations corrupting candidates and money being evil is just been demonstrated to be false … so you could look at this as gross hypocrisy on his part or actually an admission that he never believed his rhetoric in the first place.”

There will be restriction on who will be allowed to donate. The Boston Globe Reports.

“Corporations that accepted money from the government’s Troubled Asset Relief Program, used to rescue the financial system during the economic meltdown of 2008 and 2009, will not be able to donate unless they have paid back the money.”

The New York Times also reports that, as of now, the president won't enter into any sponsorship agreements and will also use a “a vetting standard” to filter out any problematic donations.

 

Obama Changes Policy on Corporate Contributions

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Dec 8, 2012

Obama Changes Policy on Corporate Contributions


(Image Source: Obama for America)

BY ROBERT ABEL

President Obama has changed his policy regarding corporate funds and will be accepting unlimited corporate donations for his 2013 Inauguration. WILX has more.

“Politico is reporting the change comes because the election was so expensive that donors are tapped out and it would be hard to raise millions in just a few weeks”

Obama’s first inauguration was financed by contributions limited to individual donations of up to $50,000. The committee has said that the activities surrounding the event will be smaller and that the change is necessary.

“Our goal is to make sure that we will meet the fund-raising requirements for this civic event after the most expensive presidential campaign in history,” the spokeswoman, Addie Whisenant, said in a statement, adding that donors’ names would be posted on a Web site “to ensure continued transparency.”

(AOC)
The change hasn’t come without its fair share of criticism. Former Mitt Romney campaign advisor and Republican National Committee Member Jim Bopp told The Daily Beast...

“It just demonstrates all this rhetoric that we’ve had to endure about corporations corrupting candidates and money being evil is just been demonstrated to be false … so you could look at this as gross hypocrisy on his part or actually an admission that he never believed his rhetoric in the first place.”

There will be restriction on who will be allowed to donate. The Boston Globe Reports.

“Corporations that accepted money from the government’s Troubled Asset Relief Program, used to rescue the financial system during the economic meltdown of 2008 and 2009, will not be able to donate unless they have paid back the money.”

The New York Times also reports that, as of now, the president won't enter into any sponsorship agreements and will also use a “a vetting standard” to filter out any problematic donations.

 

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