Washington, D.C. — Today, Rep. Jamie Raskin (D-MD) and Sen. Sheldon Whitehouse (D-RI) introduced the Get Foreign Money Out of U.S. Elections Act. The legislation aims to prevent U.S. corporations with significant foreign ownership from influencing election outcomes and ballot measures. This bill seeks to address a loophole created by the 2010 Supreme Court decision in Citizens United v. Federal Election Commission.
The Center for American Progress (CAP) has been active in advocating for such policies at various government levels to ensure that corporate CEOs accountable to foreign investors cannot impact U.S. elections. Last year, Minnesota became the first state to enact such a policy into law, followed by San Jose, California.
In response to the new legislation, Ben Olinsky, senior vice president for Structural Reform and Governance at CAP, issued a statement:
"The Center for American Progress strongly endorses this legislation to close a dangerous loophole opened by Citizens United and prohibit political spending by foreign-influenced U.S. corporations. CAP has advocated for this policy for many years, and momentum for its passage is growing nationwide. With democracy under attack from all angles, this commonsense legislation will help protect self-government and the right of everyday Americans to chart the future of their country."
For more information or to speak with an expert, contact Sam Hananel at [email protected].
