(C) Common Dreams
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Fact Sheet: Stopping Political Spending by Foreign-Influenced U.S. Corporations [1]
['Michael Sozan', 'Senior Director', 'Media Relations', 'Director', 'Federal Affairs', 'Safety', 'Justice Campaign', 'State', 'Local Government Affairs']
Date: 2024-07
Laws are needed to prevent American-based corporations with appreciable levels of foreign ownership from spending money from their corporate treasuries to sway U.S. elections or ballot initiatives. As discussed in a 2019 Center for American Progress report,1 a U.S. corporation should be deemed “foreign influenced” and prohibited from election and ballot-related spending if the corporation meets one of the following criteria:
A single foreign shareholder owns or controls 1 percent or more of the corporation’s equity.
Multiple foreign shareholders own or control—in the aggregate—5 percent or more of the corporation’s equity.
Any foreign entity participates in the corporation’s decision-making process about election-related spending in the United States.
This fact sheet discusses the ongoing problem of political spending by foreign-influenced U.S. corporations and emphasizes the need for lawmakers to establish foreign-ownership thresholds such as those listed above to limit such spending.
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[1] Url:
https://www.americanprogress.org/article/fact-sheet-stopping-political-spending-by-foreign-influenced-u-s-corporations/
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