Citizens United foreign campaign contributions Democratic bill

Congressional Democrats are trying to close what they describe as loopholes in a 2010 Citizens United Supreme Court decision that allowed foreign entities to funnel money into U.S. elections.

Rep. Jamie Raskin, D-Md. and Senator Sheldon Whitehouse, D.R.I. The bill, led by and first shared with CNBC, would set foreign ownership thresholds to determine which U.S. companies should be barred from contributing to campaigns, ballot initiatives and referendums.

“The Roberts Court’s reckless decision in Citizens United continues to spell disaster for American democracy by allowing oligarchs and autocrats around the world to wield their influence over our elections and undermine our institutions,” Raskin said in a statement, referring to Chief Justice John Roberts and the ruling that allowed corporations and outside groups to spend unlimited amounts in U.S. elections. he said.

Raskin said the proposal would “root out corruption and ensure our elections are decided by the American people, not foreign oligarchs.” The legislation, called the Elimination of Foreign Money from U.S. Elections Act, had more than 65 Democratic co-sponsors in the House and more than 11 Democratic co-sponsors in the Senate when it was introduced Wednesday. It faces an unlikely path to passing this Congress, where both chambers are controlled by Republicans.

The bill restricts foreign capital in US companies. Shot since the 1990s. And this follows the Supreme Court’s decision in June to limit the amount political parties can spend in coordination with candidates.

It is already illegal for foreign nationals to contribute to U.S. elections, but Raskin and Whitehouse’s proposal would expand existing laws to include certain companies registered in the U.S. with foreign ownership above certain thresholds.

For example, business entities located outside the United States in which foreign nationals own 50% of voting shares, total equity capital, or membership units will be prohibited from making political contributions; Business entities within the United States where a single foreign national owns or controls 1% of the voting shares, total equity capital, or membership units outside the United States will be prohibited from making political contributions.

Raskin and Whitehouse led nearly the same bill. 118th Congress, though he failed to get votes in both chambers.

“Thanks to the disastrous Citizens United decision, foreign actors can exploit the same corruptive dark money channels that allow unlimited corporate spending,” Whitehouse said in a statement. he said. “We should get rid of the damn things altogether, but this bill will at least protect our democracy from foreign enemies influencing American elections from the shadows.”

The proposal was introduced by Reps. Brian Fitzpatrick, R-Pa. It comes after the House passed earlier this month a bipartisan bill led by U.S. President and Jared Golden, D-Maine, that aims to ban foreign contributions to local ballot initiatives, referendums and election recalls. The Senate has not yet voted on the measure.

Fitzpatrick said, “Voting is the means of self-government by a free people. No foreign government, foreign national, or foreign interest should play a role in determining the laws to which Americans are subject.” he said. in a statement after the transition.