Some of America’s biggest and most powerful companies are competing to raise money for President-elect Donald Trump’s inaugural fund, hoping to curry favor with the incoming administration, which has promised to further reduce corporate tax rates.
The Wall Street Journal earlier this week identified “at least 11 companies and industry groups supporting the inauguration” and warned them to “stop or reconsider donating to political action committees after January 6th.” “We are on track to deliver record funding following our previous commitments.” 2021. ”
The list includes the American Pharmaceutical Research Association, the US pharmaceutical industry’s top lobbying group, as well as Goldman Sachs, Bank of America, Intuit, General Motors and Toyota.
“Some donors have significantly increased their first-time donations compared to the previous year,” the newspaper reported. “Telecommunications company Charter Communications, which donated $350,000 to President Biden (Joe)’s fund and $250,000 to President Trump’s fund in 2017, will donate $1 million this time. Uber Technologies, which also donated $1 million at the inauguration, will receive an additional $1 million from Uber CEO Dara Khosrowshahi.
Additionally, the newspaper said, “Business executives have been flocking to Mar-a-Lago in Florida to meet with President-elect Trump and his team in the weeks since the election, and are keen to see the benefits of building a relationship. We hope that the incoming administration will be more friendly to their cause. ”
“In recent weeks, Mr. Trump has met with the chief executives of Metaplatform, Amazon, Google, Pfizer, Eli Lilly and others,” the newspaper added. Meta, led by billionaire Mark Zuckerberg, donated $1 million to Trump’s presidential inaugural committee, which is tax-exempt and exempt from contribution limits.
Amazon has pledged to put $1 million into the startup fund, and Ford is reportedly supplying vehicles for the event as well.
“Everyone wants to be my friend!!!” Trump wrote in a Truth Social post earlier this month.
Donors who contributed $1 million to the founding fund will have access to a January 20 swearing-in ceremony and other events such as a “Cabinet reception” and a “Make America Great Again rally,” according to a prospectus obtained by Axios. It is shown that a ticket will be given. Only those who donate at least $100,000 will be allowed to join President Trump and first lady Melania Trump in the “One America, One Light Sunday Service,” according to the document.
President Trump’s new Cabinet is filled with billionaires with deep ties to corporate America, but he is reportedly aware of major corporations that have not yet contributed to the inaugural fund.
“In recent weeks, President Trump has asked close allies how much major companies have contributed to the founding committee, or singled out specific companies,” Rolling Stone reported Wednesday, citing anonymous sources with direct knowledge of the situation. “There were times when I would ask him about it,” he said on Wednesday.
“Earlier this month, when the president-elect asked a question about a large company and was told it wasn’t donating, President Trump replied, ‘Well, you better start donating now,'” Rolling Stone added. .
