President Barack Obama’s inaugural committee is reportedly $10 million shy of its $50 million fundraising goal with just one week to go before he is sworn in for a second term, the New York Times reported.
The Jan. 21 celebration is set to be a much lower-key affair than four years ago, but it’s a striking shortfall coming on the heels of Obama’s billion-dollar re-election campaign.
According to the Times, committee officials told top donors about the fundraising gap in a conference call Thursday. Some donors said the hole is even bigger, revealing that just $30 million had been raised — something inaugural officials disputed.
The newspaper reported the inaugural committee has had particular trouble racking up corporate contributions after Obama announced last month he would accept donations from businesses, a change from 2009.
Finances aside, the inauguration has made plenty of headlines in the last week, including the pastor originally set to deliver the benediction dropping out because of a past sermon he delivered about gays. Obama is also set to take the oath with his hand on not one, but two Bibles — one owned by Martin Luther King Jr. and one by Abraham Lincoln.