On December 14, U.S. Rep. Jamie Raskin introduced the Get Foreign Money Out of U.S. Elections Act.

House Bill 6283  would prohibit political expenditures from any business entity in which a foreign directly or indirectly owns or controls or otherwise holds direct or indirect beneficial ownership of 50 percent or more of the voting shares, total equity, membership units, or other applicable ownership interests of the entity. The prohibitions would extend for domestic business entities that are foreign-owned, foreign-controlled, foreign-influenced or all three.

Previous versions of the bill were introduced in the last two sessions of Congress, but ultimately did not pass.

On March 19, U.S. Rep. Jamie Raskin introduced a bill to close a campaign finance loophole allowing foreign-owned, foreign-controlled, and foreign-influenced corporations to indirectly participate in U.S. elections.

H.R. 1615, the Get Foreign Money Out of U.S. Elections Act, amends the Federal Election Campaign Act of 1971 to expand the ban on contributions and expenditures by foreign nationals under the Act to foreign-controlled, foreign-influenced, and foreign-owned domestic corporations.

In his press release, Raskin, a constitutional law professor, said, “The problem is that domestically registered corporations can be taken-over, bought-up, controlled, or influenced by foreign corporations and foreign nationals, and this means foreign powers have an easy and perfectly lawful way to funnel foreign money into American elections.” Upon introduction, the bill was referred to the House Administration committee.