Report: Trump's team seeks to raise millions for inauguration festivities

Before you go, we thought you'd like these...
Before you go close icon

President-elect Donald Trump has an ambitious fundraising target for the events surrounding his inauguration.

A recent New York Times report states, "All told, Mr. Trump hopes to raise roughly $65 million to $75 million to fund the parade, balls and other festivities surrounding his swearing-in as president, according to several people involved in the planning efforts."

The estimate far exceeds President Obama's total of $43 million for the celebrations marking his second term in 2013, notes CBS News.

RELATED: See who Trump may pick for his administration

30 PHOTOS
Donald Trump's rumored picks for his administration
See Gallery
Donald Trump's rumored picks for his administration
Sarah Palin is rumored to be among Trump's picks for Interior Secretary. (AP Photo/Evan Vucci)

Trump named Jeff Sessions his pick for U.S. attorney general. (MANDEL NGAN/AFP/Getty Images)

Trump named Retired Lt. Gen. Michael Flynn his pick for National Security Adviser. (Photo by Drew Angerer/Getty Images)
Trump named Rep. Mike Pompeo, R-Kan., as his preferred pick for CIA director. (AP Photo/Jacquelyn Martin, File)

Newt Gingrich is rumored to be among Trump's top picks for secretary of state. REUTERS/Eduardo Munoz

Mitt Romney has reportedly been in discussions for secretary of state. 

(Photo by George Frey/Getty Images)

Ted Cruz was believed to be under consideration for Trump's attorney general

(Photo By Tom Williams/CQ Roll Call)

Steven Mnuchin is rumored to be Trump's top pick for Treasury Secretary. (KENA BETANCUR/AFP/Getty Images)
 

Bob Corker is also rumored to be among Trump's picks for secretary of state. REUTERS/Mike Theiler

Stephen Hadley is rumored to be in the running for secretary of defense. REUTERS/Larry Downing

Jim Talent is rumored to also be in the running for secretary of defense. REUTERS/Tim Parker 

Rudy Giuliani was also rumored to be among Trump's top picks for attorney general. REUTERS/Joshua Roberts

Forrest Lucas is rumored to be Trump's top pick for Interior Secretary. ( Amanda Edwards/WireImage)

Robert Grady is also being eyed for the Interior Secretary position.  REUTERS/Fred Prouser 

Donald Trump Jr. is also said to have interest in the Interior Secretary position. (REUTERS/Mike Segar)

Controversial pick Sid Miller is one of the many being considered for Agriculture Secretary. (AP Photo/Eric Gay, File)

Sam Brownback is also one of the several names being considered for Agriculture Secretary. REUTERS/Mike Segar

Billionaire Wilbur Ross is a rumored choice for Commerce Secretary. FINANCE-WLROSS/ REUTERS/Tim Chong 

Daniel Dimicco, a Trump Trade Advisor is also on the possible list for Commerce Secretary.  REUTERS/Chris Keane 

Victoria Lipnic (left) is being considered for Labor Secretary.(AP Photo/Wade Payne)

Rick Scott is considered to be a top contender for Health and Human Services Secretary.  REUTERS/Joe Skipper/File Photo

Ben Carson was also rumored to be in the running for Health and Human Services Secretary -- but said he doesn't want the job. (AP Photo/Carolyn Kaster)

Harold Hamm is considered to be the top contender for Energy Secretary.  (AP PhotoKevin Cederstrom)

Jeff Miller's name has been bounced around many times for the Veterans Affairs Secretary position. (Photo By Tom Williams/CQ Roll Call)

David Clarke is rumored to be among Trump's top picks for Homeland Security Secretary. (AP Photo/J. Scott Applewhite)

Myron Bell who has been a part of Trump's transition team is rumored to be the top pick for Environmental Protection Agency Administrator position. 

Photo Credit: Twitter/oliverwasow

Representative Tom Price of Georgia is being considered for the position of secretary of health and human services.

(Photo by Andrew Harrer/Bloomberg via Getty Images)

Ivana Trump, the president-elect's ex-wife, has said she wants Trump to name her as ambassador to the Czech Republic.

(Photo by Michael Zorn/Invision/AP)

John Bolton is yet another rumored pick for secretary of state. 

(Photo by Andrew Harrer/Bloomberg via Getty Images)

of
SEE ALL
BACK TO SLIDE
SHOW CAPTION +
HIDE CAPTION

The money raised is used to pay for the incoming administration's parties and other festivities which are not covered by taxpayer dollars.

Despite the fact that public funds are not being used, the Trump team is attracting criticism for reportedly allowing corporations to donate as much as $1 million.

This move appears to run counter to the businessman's campaign rhetoric about removing special interests from government.

The New York Times does point out that Trump will not be accepting donations from registered lobbyists who have also been removed from his team and kept out of his administration thus far.

Read Full Story

Sign up for Breaking News by AOL to get the latest breaking news alerts and updates delivered straight to your inbox.

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.

From Our Partners