Increased Transparency for Presidential Inaugural Committees' Finances
New rules enhance transparency for committees organizing presidential inaugurations. Citizens will have access to detailed information on donations and expenditures, aiming to prevent abuses and increase trust in the political process. The act also prohibits accepting donations from foreign nationals and using funds for personal purposes.
Key points
More spending details: Inaugural committees must disclose all expenditures of $200 or more, including the recipient's name, date, and purpose of payment.
Ban on foreign donations: Committees cannot accept money from non-U.S. citizens, protecting the political process from foreign influence.
Prohibition on personal use of funds: Money raised for the inauguration cannot be used for private expenses, preventing corruption.
Requirement to disburse remaining funds: Unspent money must be donated to charities (non-profit organizations) within 90 days after the inauguration.
Introduced
Additional Information
Print number: 119_S_118
Sponsor: Sen. Cortez Masto, Catherine [D-NV]
Process start date: 2025-01-16