Democratic convention will limit corporate and lobbyist donations

Next year's Democratic convention in Charlotte will have to be financed without corporate money.

The Democratic Party has issued guidelines saying the $37 million to be raised by the host committee can not come from corporations, from lobbyists or from individuals in amounts of more than $100,000.

This is the first time such restrictions have been placed on a national convention. “From the very beginning, President Obama has placed a high priority on increasing the influence of grassroots and individual donors, and this convention will go further in that direction than any convention ever,” said Brad Woodhouse, spokesman for the Democratic National Committee.