President Barack Obama will accept unlimited corporate contributions to help finance his 2013 inauguration, a shift from 2009, when corporate funding was barred and per-person donations were capped at $50,000.
The president's inaugural committee made the decision, which was first reported by Politico, because, they said, contributions from individuals alone would not raise enough to cover the price tag of all the events.
"Our goal is to make sure that we will meet the fundraising requirements for this civic event after the most expensive presidential campaign in history," Addie Whisenant, spokesperson for the Presidential Inauguration Committee, said in a statement.
Source: NBC News. Read full article. (link)