We’ve witnessed money from corporations with significant foreign ownership flowing into our elections, circumventing direct bans on foreign influence enshrined in federal law. Citizens United created a massive loophole for foreign interests to acquire stakes in U.S. corporations and then use that leverage to influence or control the corporation’s political activity, including campaign contributions, contributions to super PACs, and independent expenditures. Across the country, companies like Amazon and Airbnb, which have partial foreign ownership, have used their money to influence election outcomes and advance political agendas in their favor.
The bill from Congressman Jamie Raskin and Senator Sheldon Whitehouse would bar corporations with significant foreign ownership from contributing to candidates, parties, or committees (including super PACs) or from engaging in direct election spending. Free Speech For People was instrumental in drafting and helping to pass this model legislation in San Jose, California, and Seattle, Washington.
Now more than ever, we must do all we can to restore faith and confidence in our democracy. By banning multinational corporations from pouring unlimited sums of money into our elections, we are upholding the letter of the law and getting us one step closer to a democracy that is truly by and for the people.
