December 1st, 2008
02:00 PM ET
11 years ago

Obama transition releases donor list

(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.

Filed under: Obama transition
soundoff (106 Responses)
  1. In North Carolina

    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 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!

    December 1, 2008 06:11 pm at 6:11 pm |
  2. Madge, NM

    What is the transition fund for? I thought the Government paid for the transition. I don't understand this.

    December 1, 2008 06:20 pm at 6:20 pm |
  3. Yes, I Will

    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.

    December 1, 2008 06:22 pm at 6:22 pm |
  4. Lauren

    Ok, so what happens when they do not raise the almost 7 million shortfall?????

    Will congress bail Obamas transition out??????

    December 1, 2008 06:28 pm at 6:28 pm |
  5. Paul

    Does the record drop on Wall Street today mean that the market is reacting to Obama's choices for THE DREAM TEAM ?

    December 1, 2008 07:03 pm at 7:03 pm |
  6. Jim

    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.

    December 1, 2008 07:06 pm at 7:06 pm |
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