The committee raising money for President-elect Joe Biden’s inauguration will take contributions from individual donors of as much as $500,000 and from corporations of as much as $1 million.
That’s according to an inaugural official who spoke on condition of anonymity to discuss the work of the committee, which started raising money on Monday for the Jan. 20 festivities.
The committee won’t accept contributions from lobbyists or the fossil fuels industry, including companies and executives whose “primary business is the extraction, processing, distribution or sale of oil, gas or coal.” The prohibition applies to political action committees run by fossil fuels interests.
The contribution limits for Biden are far lower than those of President Donald Trump in 2017.
Trump raised a record $107 million for his inauguration and accepted massive checks from individuals, including $5 million from Republican megadonor Sheldon Adelson.