Later On

A blog written for those whose interests more or less match mine.

Republicans want foreign money in US elections

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Jon Schwarz and Naomi LaChance report in The Intercept:

A proposal to begin writing new regulations to staunch the flow of money from foreign-owned corporations into U.S. elections is the latest victim of the Federal Election Commission’s chronic deadlock when it comes to anything remotely like a reform measure.

The FEC has six members, and by law no more than three may be from the same political party. The three Republican commissioners have often voted as a block to prevent any additional restrictions on money in politics.

At Thursday’s meeting, the GOP commissioners’ opposition was so categorical they declined even to support beginning the process of writing new FEC regulations to prevent corporations that are wholly-owned by foreign governments from putting unlimited money into the U.S. political process. (They did allow that they might consider such a proposal in the future.)

The main proposal on foreign money discussed at the meeting came from one of the FEC’s Democratic members, Ellen Weintraub, and was intended to address a peculiar loophole created by the 2010 Supreme Court’s Citizens United decision.

U.S. law strictly prohibits “foreign nationals” — a term which includes foreign individuals, corporations and governments — from putting money into the U.S. political process. However, the law also states that any company incorporated in the U.S. is a U.S. national, regardless of its ultimate ownership.

President Obama predicted in his 2010 State of the Union address that — because Citizens United lifted previous bans against corporate involvement in federal elections — it would therefore make it possible for “foreign corporations” to “spend without limit in our elections.”

As evidence that this loophole is in fact being utilized, Weintraub’s proposal cited recent reporting by The Intercept about a California corporation called American Pacific International Capital, or APIC. APIC is owned and controlled by Chinese citizens, and donated $1.3 million to Right to Rise USA, the main Super PAC supporting Jeb Bush’s recent presidential run.

During yesterday’s meeting, Lee Goodman, one of the Republican commissioners, claimed that “both before Citizens United and after Citizens United this commission and the Department of Justice have been fully capable of preventing foreign national involvement.”

The FEC and Justice Department did not investigate APIC’s donations before The Intercept’s reporting. . .

Continue reading.

Written by LeisureGuy

16 September 2016 at 2:20 pm

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