The inauguration marks the official transfer of presidential power, with the executive branch changing hands from the Biden administration to the Trump administration. The 20th Amendment states that a president's four-year term ends at noon on Jan. 20, and the president-elect is sworn in shortly after.

Though he won the election in November, Trump will officially become the 47th president once he says those words. He previously served as the 45th president between 2017 and 2021. Vance will also take an oath of office before he formally becomes vice-president.