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A bill to require additional disclosures relating to donations to the Presidential Inaugural Committee, and for other purposes.
1/17/2025, 11:56 AM
Summary of Bill S 118
The bill requires that any donation made to a Presidential Inaugural Committee exceeding $1,000 must be disclosed to the Federal Election Commission within 48 hours of receipt. This disclosure must include the name and address of the donor, as well as the amount of the donation.
Additionally, the bill prohibits foreign nationals, foreign governments, and foreign corporations from making donations to Presidential Inaugural Committees. This is in line with existing laws that prohibit foreign interference in US elections. The purpose of this bill is to ensure that the public is aware of who is contributing to Presidential Inaugural Committees and to prevent any potential conflicts of interest or undue influence on the incoming administration. Overall, Bill 119 s 118 seeks to promote transparency and integrity in the fundraising process for Presidential Inaugural Committees, ultimately aiming to uphold the democratic principles of the United States.
Congressional Summary of S 118
Inaugural Committee Transparency Act of 2025
This bill requires the presidential inaugural committee to disclose to the Federal Election Commission, by 90 days after the presidential inaugural ceremony, any disbursement made in an amount equal to or greater than $200 and the purpose of each disbursement. The committee must also disclose the name and address of the person to whom the disbursement was made, the date of the disbursement, and the total amount and purpose of the disbursement.
The bill prohibits (1) an inaugural committee from soliciting or receiving a donation from a foreign national, in addition to the current ban on a committee accepting such a donation; (2) a person from making a donation to an inaugural committee in the name of another; (3) a foreign national from making a donation or making a promise to make a donation to such a committee; or (4) converting a donation to an inaugural committee to personal use.
The committee must disburse any remaining donated funds not later than 90 days after the inaugural ceremony to tax-exempt charitable organizations, but may request an extension of such 90-day period.
