Scanlon, Sarbanes Introduce Legislation to Increase the Transparency of Presidential Inaugural Fundraising
Washington,
November 8, 2023
Washington, D.C. – Congresswoman Mary Gay Scanlon (PA-05) today joined Rep. John Sarbanes (MD-03), Co-Chair of the Task Force on Strengthening Democracy, in introducing the Inaugural Fund Integrity Act to establish limits on donations to inaugural committees and require donations and disbursements to be disclosed. While federal campaigns have clear regulations for financial contributions and reporting requirements, inaugural committees lack similar basic guidelines. The lack of reporting requirements provides a pernicious opportunity for influence peddling after a candidate is elected. The Inaugural Fund Integrity Act will address several loopholes in the current Inaugural Committee structure that allow for abuse of funds by;
“Holding our leaders to the highest standards of ethical conduct is a critical part of restoring faith in our democratic institutions,” said Rep. Scanlon. “It’s past time we address the lack of oversight of inaugural committees and finally increase transparency of presidential inaugural fundraising. I’m grateful for Rep. Sarbanes’s partnership on this important legislation and his dedication to cleaning up Washington and returning to a government of, by, and for the people.” “I am proud to join Congresswoman Scanlon in introducing this legislation to increase the transparency of presidential inaugural fundraising by establishing contribution limits, strengthening disclosure requirements, prohibiting foreign and corporate donations, and ensuring inaugural committee funds are used for their intended purpose: to plan and celebrate an inauguration," said Rep. Sarbanes. “As we continue to channel Americans’ desire to fortify our democracy by creating a more transparent, accountable and responsive government, reforms like these play a critical role in combating the perverse influence of dark money in our politics and prioritizing the public interest over special interests.” “It may come as a surprise, but currently there are very few rules governing the use of Inaugural funds by a Presidential Inaugural Committee. There are no disclosure requirements for expenditures, no guidelines for operating expenses and salaries paid by the Inaugural committee, and no set rules on how surplus funds may be spent,” said Craig Holman of Public Citizen. “Rep. Scanlon’s Inaugural Fund Integrity Act would bring desperately-needed transparency and accountability to rein in mismanagement of Inaugural funds and curb the potential for corruption.” Find the full text of the bill here. ### |
