The Inaugural Fund Integrity Act aims to limit individual donations to Inaugural Committees, mandate disclosure of donations and disbursements, and prohibit Inaugural Committees from accepting donations from entities other than individuals or from foreign nationals, applying to inaugurations in 2029 and beyond.
Mary Scanlon
Representative
PA-5
The "Inaugural Fund Integrity Act" aims to increase transparency and limit potential abuse in Presidential Inaugural Committee funding. It prohibits donations from entities and foreign nationals, caps individual donations at $50,000 (adjusted for inflation), and requires detailed, timely reporting of donations and disbursements. Unused funds may be donated to 501(c)(3) nonprofits. These regulations apply to inaugurations beginning in 2029.
Inaugural Fund Integrity Act Caps Donations at $50K, Bans Corporate & Foreign Money: Quick Reporting Now Required
The Inaugural Fund Integrity Act is all about cleaning up how presidential inaugurations are funded. Instead of letting corporations and foreign nationals bankroll the parties, this bill shuts that down, making sure only individuals can donate. And even then, there's a hard cap of $50,000 per person.
No More Mystery Money
This bill tackles the potential for big money to influence inaugurations. First, it clearly states that inaugural committees can only accept donations from individuals—no corporations, no foreign entities (SEC. 2). It also specifically prohibits donating in someone else's name, a tactic often used to bypass limits (SEC. 2). Plus, that $50,000 cap per individual? It's going to be adjusted for inflation every presidential election year, so it stays relevant (SEC. 2). For example, if inflation goes up, that cap will get bumped up too, rounded to the nearest $1,000.
Show Me the Money – Fast
Transparency is a huge part of this. Any donation of $1,000 or more has to be reported within 24 hours (SEC. 2). That means we'll know, almost in real-time, who's contributing significant amounts. Think about it: instead of waiting months to see who funded the inauguration, we get that info almost immediately. Within 90 days after the inauguration, committees have to file a full report detailing all donations of $200 or more, along with how they spent the money (SEC. 2). This includes specifics like operating expenses and even who got paid over $200, and for what (SEC. 2).
Keeping it Clean
The law is also really clear about what counts as a "donation." It's not just cash – it includes gifts, loans, and even services provided without charge (SEC. 2). The only thing that doesn't count is if someone volunteers their time without getting paid (SEC. 2). The bill also makes sure that any leftover money can only go to legitimate charities (501(c)(3) organizations), not someone's pocket (SEC. 2).
Real-World Impact and Challenges
This new rule applies to inaugurations from 2029 onwards (SEC. 2). While it's a big step towards transparency, there could be practical challenges. For example, people might try to get around the $50,000 limit by bundling donations through multiple individuals. Also, the definition of 'personal expenses' might be open to interpretation, possibly allowing for some gray areas in how funds are used. Enforcing that 24-hour reporting rule for big donations could also be tricky, requiring a robust system to track and verify information quickly. But overall, this bill is a solid move to make sure inaugurations are funded fairly and transparently.