Tags: obama | transition | cash

Obama Raises Over a Million in Transition Cash

Tuesday, 02 Dec 2008 01:16 PM

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President-elect Barack Obama’s transition team raised more than $1.1 million in the 10 days following the election to help pay for transition costs, the team announced on Monday.

The total, which came from 1,776 donors, is about one-third of the team’s $3.5 million goal. In addition, taxpayers will provide $8.5 million.

Contributors are limited by law to a maximum $5,000 donation, and Obama has refused to accept funds from unions, political action committees, registered federal lobbyists, and corporations, The Washington Post reports.

But donors who have given the $5,000 maximum include James and Paula Crown, members of a Chicago family whose holdings include a large stake in defense contractor General Dynamics Corp., and John Rogers, chief executive of Ariel Management in Chicago.

Maximum donors from the entertainment industry include filmmaker George Lucas and Warner Music Group CEO Edgar Bronfman Jr.

Small donors also chipped in to help the transition team, according to The Post. Among those making contributions of $200 or less was a worker at a Wendy’s in Pennsylvania.

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