(CNN) – President-elect Barack Obama’s transition team released its donor list Monday as part of a pledge to “to run the most open and transparent transition in history,” according to a written statement from the transition.
According to the statement, almost $1.2 million had been raised from 1,776 donors as of November 15. While Congress has appropriated $5.2 million for the transition, Obama’s team anticipates overall transition costs of roughly $12 million. The estimated $6.8 million funding gap will be closed by private donations — a task complicated by Obama’s strict limitations on both sources and amounts that can be given by any individual.
“The Obama-Biden Transition project only accepts contributions from individuals’ personal funds – we refuse all donations from corporations, labor unions, and PACs,” the statement noted. “Individuals may not donate more than $5,000. We also refuse all contributions from registered federal lobbyists and registered foreign agents.”
Last week, on Tuesday, the newly-named co-chairs of Obama’s inaugural committee — former Commerce Secretary William Daley, Obama campaign finance chair Penny Pritzker, national finance director Julianna Smoot, businessman John W. Rogers, and Republican Patrick Ryan — released a joint statement that the transition effort would not accept individual donations higher than $50,000.
For the past 20 years, federal funding requirements have called for transition teams to release a list of donors. That disclosure is not required until 30 days after the inauguration, but Obama has pledged to release those names on a monthly basis.
I am very happy that Obama is doing so many things different. I donated with a cheerful heart! I am glad Obama is setting his adminstration up to be more accessible to Americans. From Change.gov to the release of his donors list. This is going to be a more effective goveernment for the people of the United States! RAYMOND: The majority of people who voted for Obama ARE NOT looking for a handout. Obviously, you are of the set who believe that when people demand a better government they want handouts. For those down-trodden in our country, they want a hand up!
What is the transition fund for? I thought the Government paid for the transition. I don't understand this.
We are behind him all the way. Yes I will pay for the transition and anything else he needs. Barack is a great American who needs our help. If he can run for office and make a difference, I can support him. Yes, I can.
Ok, so what happens when they do not raise the almost 7 million shortfall?????
Will congress bail Obamas transition out??????
Does the record drop on Wall Street today mean that the market is reacting to Obama's choices for THE DREAM TEAM ?
I am proud to donated early to Obama's campaign. I realized he was a brilliant and insightful leader for our times. I donated $10 or $20 at a time over several months and ended up giving over $300. I have never done this in my life before! I am so glad I made this sacrifice to help get our country back on the right track and reverse the tragedy of the Bush presidency.