Some of the largest, most powerful companies in the United States are racing to finance President-elect Donald Trump's inaugural fund as they attempt to court favor with the incoming administration, which has promised a further reduction of the corporate tax rate.
The Wall Street Journal earlier this week identified "at least 11 companies and trade associations that are backing the inauguration, which is on track to bring in a record fundraising haul, after earlier pledging to suspend or reconsider political-action committee donations after January 6, 2021."
Corporate executives have been flocking to Mar-a-Lago, Trump's Florida resort, in the weeks since the election to meet with the president-elect and his team, in the hopes that building a relationship could make the incoming administration friendlier to their causes.
Some donors are substantially boosting their inaugural donations from previous years; for example, Charter Communications is donating $1 million this time, significantly up from its past contributions.
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