Monday, January 18, 2021

Funding Joe Biden - Part 1 - The Inauguration

This is part 1 of a two part posting that looks at who has funded the Biden run for the presidency starting with an examination of the donors to the Biden Inaugural Committee followed by part 2 which will outline the Americans that backed his campaign.

The Biden Inaugural Committee recently released its report showing which individuals, corporations and groups have donated to the Biden inauguration festivities to this point in time.  The inaugural committee is appointed by the President-elect to be in charge of the presidential inaugural ceremony and must register with the Federal Election Commission (FEC) within 15 days of their appointment by the President-elect.


There are three important things to know about donations to the inaugural committee:


1.) foreign nationals are prohibited from making donations and inaugural committees are prohibited from knowingly accepting donations from foreigners.


2.) donations to an inaugural committee are not subject to contribution limits.


3.) unions and corporations may contribute to an inaugural committee.


Let's look at the list of donors who contributed over $200 for Joe Biden's inauguration which is to be held on January 20, 2021.  In total, there were 960 donors with key donors as follows:


1.) Corporate America - Anthem Inc. (insurance), Charter Communications (telecommunications and mass media), Boeing, Bravia Capital Partners (capital markets), Capital Group (financial services), Centene Management Company (health insurance), Comcast Corporation (telecommunications), Enterprise Holdings PAC (private holding company - parent of Enterprise, National and Alamo car rental companies), Google, Higherschool Publishing Company (educational services), Masimo Corporation (medical technology), Medpoint Management (managed health care), Microsoft, Mobilize (technology), Qualcomm (technology), Starling Chevy Buick GMC, Verizon, 


2.) Unions - American Federation of Teachers, International Brotherhood of Electrical Workers, United Food and Commercial Workers, 


3.) Interesting Individuals - Arthur Blank (co-founder of Home Depot and owner of the Atlanta Falcons), Richard C. Blum (Chairman and President of Blum Capital and husband of Senator Dianne Feinstein), Senator Barbara Boxer, Barbra Streisand, Donald Sussman (founder of Paloma Funds - hedge fund mogul).

While we may not know the exact amount of each donation at this point in time, we do know which corporations, groups and individuals expect special treatment from the Biden Administration.


From the Biden inauguration website, here is a key note regarding who would not be allowed to donate to this cause:


So, if you happen to be a fossil fuel company, too bad for you.  Your donation will not be accepted by the "Build Back Better" leadership in Washington.


Just in case you had a few hundred thousand dollars lying around, looking for a home and were interested in making a substantial donation to the Biden inauguration, here is a screen capture showing what you could experience, depending on your level of generosity of course:


Under law, the Biden Inaugural Committee is required to disclose the specific amounts of the donations to the FEC no later than 11:59 pm EST on the 90th day following the presidential inaugural ceremony.    For donations of money or anything else of value, the committee must supply the name and mailing address of the moron, the amount of each donation, the aggregate amount of donations from each donor and the date of receipt of the donation.

In part 2 of this two part posting, I will outline the corporations, industries and individuals who backed the Biden presidential campaign.

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