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Get Foreign Money Out of U.S. Elections: New Rules for Businesses.

This law aims to block foreign money influence in federal, state, and local elections. It expands the ban on campaign financing to include US businesses significantly owned or controlled by foreign entities. It requires these businesses to file sworn certifications confirming they are not foreign-controlled when making election-related contributions, enhancing transparency and protecting the democratic process.
Key points
The ban on campaign funding (including local ballot measures) is extended to companies where foreign owners hold 1% or more of shares, or 5% in aggregate, or have influence over the entity's political decisions.
Businesses making election contributions must file a sworn statement (under penalty of perjury) certifying they are not foreign-controlled.
Corporate political action committees (PACs) must ensure that no foreign national participates in or advises on their spending decisions.
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Expired
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Additional Information
Print number: 118_S_4666
Sponsor: Sen. Whitehouse, Sheldon [D-RI]
Process start date: 2024-07-10
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Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Get Foreign Money Out of U.S. Elections Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_S_4666.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2024-07-10.

What are the main provisions?

Key points include:

  • The ban on campaign funding (including local ballot measures) is extended to companies where foreign owners hold 1% or more of shares, or 5% in aggregate, or have influence over the entity's political decisions.
  • Businesses making election contributions must file a sworn statement (under penalty of perjury) certifying they are not foreign-controlled.
  • Corporate political action committees (PACs) must ensure that no foreign national participates in or advises on their spending decisions.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Sen. Whitehouse, Sheldon [D-RI].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-26.

CATEGORIES

Courts and Law Economy