Democratic Bill Targets Foreign-Owned Companies' Campaign Spending After Citizens United

Democratic lawmakers Rep. Jamie Raskin and Sen. Sheldon Whitehouse introduced the 'Get Foreign Money out of U.S. Elections Act' on Wednesday, aiming to close loopholes from the 2010 Citizens United Supreme Court decision that they say allow foreign entities to influence U.S. elections. The bill would establish foreign ownership thresholds—such as banning contributions from U.S.-based companies where a single foreign national owns 1% of voting shares—to bar foreign-owned or influenced corporations from making political contributions. The legislation comes amid rising foreign equity in U.S. companies and follows a recent Supreme Court ruling that struck down limits on political party spending. While the bill has over 65 House and 11 Senate Democratic cosponsors, it faces an unlikely path to passage with Republicans controlling both chambers. A nearly identical bill in the previous Congress did not receive a vote.