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

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.

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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.