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Dec 2, 2008
Obama releases donation data
WASHINGTON - FILMMAKER George Lucas and Google CEO Eric Schmidt are among the donors helping to underwrite Mr Barack Obama's transition to the US presidency, according to figures released on Monday.

The Star Wars creator and the Internet mogul were among 1,776 people who contributed nearly US$1.2 million (S$1.8 million) following Mr Obama's Nov 4 victory over Republican John McCain, according to a list posted on the transition team's website.

Mr Obama's transition team has set a budget of US$12 million to pay salaries, rent and other expenses as it prepares to take office on Jan 20.

Taxpayers will pay US$5.2 million and the rest must be covered by donors who can each give up to US$5,000.

Mr Obama's transition team has pledged to release the names of those donors on a monthly basis to establish transparency. It is also refusing contributions from registered lobbyists, corporations, labor unions and other groups.

As of Nov 15, more than half of the total raised came from 131 people who gave the US$5,000 maximum.

Others who contributed that amount included Mr James Crowe, CEO of Level 3 Communications; Mr Andrew Lack, head of Bloomberg LP's multimedia group; and Mr William Daley, a former commerce secretary under President Bill Clinton who is a co-chair of Mr Obama's inauguration committee.

'The question always is what might they be expecting in return for their effort, and of course there's no way to know that at this point,' said Mr Massie Ritsch of the Centre for Responsive Politics, a watchdog group.

Mr Obama raised a record-shattering US$639 million during his presidential campaign, but he's not finished. In addition to transition costs, Mr Obama backers are now raising money to pay for inauguration festivities. President George W. Bush raised more than US$40 million for his inauguration in 2005.

Unlike campaign contributions, those donations are not limited by law. Mr Bush set a limit of US$250,000 for individuals to pay for his second inauguration.

Those wanting to write a check to help pay for Mr Obama's inauguration face a US$50,000 ceiling. -- REUTERS

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