Trump raises funds for inauguration despite Biden’s victory

Despite being on the cusp of exit from the White House, U.S. President, Donald Trump has launched a fundraiser towards a potential inauguration.

Trump, the Republican incumbent has refused to admit defeat to Democrat President-Elect, Joe Biden.

And the president is going ahead with his plans beyond 2020, calling for donations expected to help cover the costs associated with his unlikely inauguration for a second term.

“All donations of $50 or more will include two tickets to President Trump’s inauguration in the historic Rose Garden,” a statement on Trump’s campaign website read.

“Trump Make America Great Again Committee (TMAGAC) is a joint fundraising committee composed of participating committees Donald J. Trump for President, Inc. (DJTP), Save America, and the Republican National Committee (RNC).

“Contributions to TMAGAC or any member committee are not deductible for federal income tax purposes. Contributions to TMAGAC are subject to federal contribution limits and source prohibitions. Federal law requires us to collect and report the name, mailing address, occupation, and employer of each contributor whose contributions aggregate in excess of $200 in a calendar year (RNC, Save America) or election cycle (DJTP)”.

Trump’s inaugural committee raised the most of any newly elected president in 2016: a whopping $107 million.

For comparison, President Barack Obama’s inaugural committee raised $53 million.

Meanwhile, Biden’s team is appealing to its high-dollar donors to help raise millions of dollars more for his presidential transition, amid concerns the Trump administration will continue to block public funding.

The General Services Administration must “ascertain” that Biden won the election before the federal government will release roughly $10 million in funds to which the transition is legally entitled.

So far, the transition has raised more than $8 million, according to three people familiar with the total, hitting their initial $7 million to $10 million goal. Now they’re upping it by “several millions of dollars in anticipation of GSA not relenting before the inauguration,” said one person familiar with the transition efforts.

The funding is expected to help cover the costs associated with the bureaucratic handover, including the hundreds of aides who have already been hired to staff the transition and its agency review teams, who are a mix of paid staffers and volunteers.

A half-dozen Democratic donors, bundlers and others familiar with the transition’s fundraising efforts, granted anonymity to speak candidly about private meetings, described a palpable shift in urgency in recent days, driven by what they described as the increasing likelihood that President Donald Trump wouldn’t relinquish the money before he leaves office in January, as well as the multiple crises facing the incoming administration.