1 min read

Presidential Libraries

There is a considerable loophole in the campaign finance regulations.  Usually, we hear about no big gifts, no secrets, and no foreign money.  However, if you want to give to a presidential library, there are no limits.

On March 14, the House voted 390-34 in favor of approving the Presidential Library Donation Reform Act.  This act would require that the source and amount of any donations over $200 be disclosed quarterly until the completed library is turned over to the National Archives.

Why does this need to be done (besides the obvious)?  The Jimmy Carter Library took $26 million to build.  The Ronald Reagan Library took $57 million.  George H.W. Bush's was price tag of $83 million.  Bill Clinton's library complex took $163 million.  The rumor is that George W. Bush's library will have a  of $500 million.   Since these amounts are so high, fundraising starts before the president leaves office.  If people and/or corporations are giving a million dollars, how do you not see political favoritism if laws are made in favor of these people/corporations.

We'll see what happens now with this act.

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