As Donald Trump prepares for his upcoming inauguration next month, a range of Fortune 500 companies, crypto firms, and individual billionaires are pledging substantial financial support, with some donations reaching up to $5 million. These contributions, aimed at underwriting the inaugural events, are part of a larger effort to build relationships with the incoming administration.

Amazon, Ford Motor Company, and hedge fund billionaire Ken Griffin are among the companies offering donations at the $1 million level. Cryptocurrency company Ripple is contributing $5 million in XRP digital currency, a move that highlights the growing influence of the crypto industry in Washington. While the swearing-in ceremony itself is funded by taxpayers, the accompanying events, including a candlelight dinner with Trump and exclusive VIP access, are privately financed.

The inaugural committee is offering perks such as access to private dinners with Trump and his wife Melania, and tickets to events like the “Starlight Ball” and the inauguration parade. These high-level donations are seen as a way for corporate interests and wealthy individuals to align themselves with the new administration, according to political analysts.

Michael Beckel, research director at Issue One, explained that large donations are a way to gain access to the president and key officials. “Money is a way of building relationships in Washington,” he said. “Everyone is racing to make friends with the incoming president, who has significant power.”

There are no legal limits on the size of donations to an inaugural committee, allowing companies and individuals to contribute large sums without restrictions. The identities of donors who contribute more than $200 will be disclosed 90 days after the event, following a report filed with the Federal Election Commission.

The crypto industry, in particular, has been eager to engage with the new administration. Coinbase, a major cryptocurrency trading platform, donated $1 million to support the inauguration, reflecting its goal of establishing regulatory clarity for digital currencies. Robinhood, an online trading platform, has also pledged $2 million, aiming to influence policies that promote free markets and consumer choice.

Companies like Ford and General Motors, which supported Trump’s first inauguration in 2017, are continuing their contributions this year, with each donating $1 million. These companies are hoping for favorable policies, such as trade deals and tax regulations, under Trump’s leadership.

In addition to corporate donations, individual supporters are also giving generously. Sheldon Adelson, a major donor to Trump’s first inauguration, was the largest individual contributor with $5 million in 2017. His widow, Dr. Miriam Adelson, is helping finance this year’s event.

The high-stakes nature of these donations underscores the deep ties between big business and politics, with many contributors seeking access to power in the new administration. As the inauguration approaches, these donors will enjoy unparalleled access to the president and his team, highlighting the significant influence of money in shaping the political landscape.

President-elect Donald Trump has upended the debate on government spending by calling for a premature increase to the U.S. debt ceiling, urging that it be extended until 2029 or abolished altogether. His comments, made in a Truth Social post late Friday, have raised eyebrows across the political spectrum and ignited a fresh round of debate on Capitol Hill.

Trump’s call for an extension of the debt ceiling until 2029 comes at a time when the U.S. federal debt has surpassed $36 trillion. The move represents a sharp contrast to the position traditionally held by Republicans, who have long used the debt ceiling as leverage in negotiations over government spending and fiscal policy.

In a post made early Friday morning, Trump described the current debt ceiling as “ridiculous” and insisted that Congress must either eliminate or extend it to avoid stalling negotiations. “Without this, we should never make a deal. Remember, the pressure is on whoever is President,” Trump wrote.

In an interview with NBC News, Trump further endorsed the idea of abolishing the debt ceiling entirely, describing it as the “smartest thing” Congress could do. This position aligns more closely with liberals and economists who have long criticized the debt ceiling as a political tool that unnecessarily risks default.

Historically, the debt ceiling has been used by both parties as a bargaining chip during budget negotiations. However, Trump’s stance stands in stark contrast to the approach traditionally favored by Republicans, who have used debt ceiling debates to push for spending cuts and tax reforms. Trump’s tax cuts, which are expected to significantly increase deficits, may also contribute to the growing pressure to address the debt ceiling.

While Trump’s position could find some support among Democrats, who have also criticized the debt ceiling, it is less likely to be embraced by many Republicans. Lawmakers from both parties have used the debt ceiling as leverage in negotiations over issues such as defense spending, healthcare, and tax policy.

The debt ceiling, established in 1917, sets a cap on the total amount of debt the U.S. government can incur. As the federal debt has grown, the debt ceiling has been raised numerous times. Failure to raise or suspend the ceiling could lead to a default, with serious consequences for the U.S. economy and its creditors, including Social Security and other trust funds.

Trump’s proposal has sparked a renewed debate about the future of the debt ceiling. Some economists and lawmakers, particularly progressives, have called for its abolition, arguing that it serves as a political tool that endangers the U.S. economy. A group of Senate Democrats recently reintroduced a bill to permanently repeal the debt ceiling.

Despite Trump’s push for change, Republican lawmakers appear to be more cautious. They are unlikely to embrace the idea of permanently removing the debt ceiling, fearing it would diminish their ability to negotiate future spending cuts and other fiscal policies.

As the debate continues, it remains unclear whether Trump’s proposals will gain traction with lawmakers or whether the debt ceiling will continue to serve as a point of contention in future budget negotiations.