Only seven companies have offered corporate cash to help fund President Barack Obama’s upcoming inaugural festivities.
In 2009, Obama banned corporate donors from paying for his inauguration, but he was still able to raise $53 million from private donors.
However, this month’s inauguration is being held after the most expensive presidential campaign in history, and even with the corporate donations will be a scaled-down event. This year, fewer people are expected to attend the inauguration and there are only two official balls planned.
There are a few reasons this year’s celebration has been scaled back.
Organizers say the ceremonies reflect the nation is facing tough economic times, and fewer ceremonies will mean less of a burden on Washington’s law enforcement and residents, along with other security personnel.
According to the Inauguration Committee’s website, more than 400 people have donated toward the events. So far, though, the only corporate donors are AT&T, Microsoft, Centene, Financial Innovations, Genentech, Stream Line Circle, and Whittier Trust Co.