January 25, 2024

Foreign-Influenced Corporate Money in State Elections

In a groundbreaking new report on political giving by foreign-influenced companies across multiple key states, OpenSecrets sheds light on the escalating influence of foreign-influenced companies in U.S. state-level elections. 

(A Case Study of State-Level Corporate Political Contributions in Colorado, Michigan, Minnesota, Montana, New York & Washington.)

Outside spending in presidential primary continues surge, with little effect

No matter how you slice it, spending on the presidential primary is historic, outpacing previous election cycles and reaching nearly $307.7 million — largely benefitting Nikki Haley and dwarfing the $168.2 million in outside spending by this point in the 2016 presidential primary.

Chart of the Week

Dive deeper into the data behind the headlines

In recent years, concerns about foreign influence in U.S. elections have grown, and several states have proposed laws to restrict foreign-influenced companies (FICs) from engaging in political spending in state or local elections. 

Washington attracted more foreign-influenced dollars.

According to OpenSecrets' analysis, Washington attracted more than $67.8 million in contributions from foreign-influenced companies — more than any of the other five states.

Minnesota passes the first statewide ban on FIC spending.

Among the six states, OpenSecrets tracked the lowest sum of 2018-2022 cycle contributions from foreign-influenced companies in Minnesota, a state that recently passed the nation's first statewide ban on FIC spending.

Minnesota's FIC contributions between the 2018 and 2022 cycles totaled $258,000. Minnesota already bars corporate contributions to state-level candidates as well as party committees and is the only one of the six that didn't have ballot measure contributions in elections in 2021 or 2022, which are likely components factoring into the low total.

See our media citations from outlets around the nation this week:

Watchdogs urge presidential candidates to disclose top campaign fundraisers (The Hill)

Fourteen organizations across the political spectrum signed onto the letter: American Promise, Business for America, Campaign Legal Center, Common Cause, Democracy 21, Issue One, League of Women Voters of the United States, Michigan Campaign Finance Network, National Legal and Policy Center, OpenSecrets, Project On Government Oversight, Public Citizen, RepresentUs, and Take Back Our Republic Action.

Investors Are Betting on Defense Startups. The Pentagon Isn’t. (Wall Street Journal)

Tech startups get cool reception from Defense Department despite its rhetoric that it will buy more from Silicon Valley. Last year, the most highly valued, venture-backed defense startups spent a combined nearly $6 million on lobbyists, nearly double the lobbying spend in 2019, according to OpenSecrets, which tracks political spending.

4 things to know about Elise Stefanik, as VP rumors swirl (NPR)

As she sharply defended Trump during his first impeachment hearings in 2019, Stefanik saw her campaign donations more than quadruple, from $2.8 million in her 2018 race to $13.3 million in 2020, according to data compiled by OpenSecrets.

Politico

Newsweek

Bloomberg

NPR

CNBC

WIRED

NJ.com

Common Dreams
Washington Examiner

The Messenger

The Sacramento Bee

The News & Observer

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