President Donald Trump began his administration on its first day by shattering a record set by his predecessor.
Trump’s inauguration committee raised an unprecedented $106.7 million to celebrate the beginning of his term in office, doubling that of former President Barack Obama in 2009, according to Bloomberg Politics.
“The amount of funds raised for the inaugural celebration allowed the president to give the American people, those both at home and visiting Washington, a chance to experience the incredible moment in our democracy where we witness the peaceful transition of power, a cornerstone of American democracy,” the committee’s chairman, Tom Barrack, said in a statement.
A full and final report is required to be submitted to the Federal Election Commission Thursday. Bloomberg reported:
The inaugural committee said it would start winding down the organization once it submits paperwork to the Federal Election Commission. As part of that process, it plans to identify charities that will receive donations from excess money in its account. The committee didn’t disclose how much money was left over.
Contributing to the inauguration ceremonies was the last chance for previously reticent donors to hop aboard the Trump train.
The Obama inauguration committee set a record in 2009 when it raised $53 million and hosted 10 official balls. Four years later, it took in $43.7 million and scaled back the ceremony by hosting two official balls — the same number as did the Trump committee.
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