A bill unveiled Wednesday by Sen. Jim Banks, R-Ind., aims to end foreign spending on U.S. ballot initiatives, the Daily Caller reported.
While the Federal Election Campaign Act prohibits foreign nationals from giving money to any federal, state, or local election in the U.S., Banks’ bill seeks to amend the act to prohibit foreign contributions to ballot initiatives and referendums.
Banks’ Protecting Ballot Measures From Foreign Influence Act would end the untold influence wealthy foreigners have had on America’s critical and often society-changing ballot initiatives.
“Foreign billionaires are bankrolling left-wing ballot initiatives to push radical agendas and sway our elections,” Banks said in a statement.
“In recent years, we’ve seen millions pour into pro-abortion campaigns in states across the country.
“My bill closes these loopholes and stops foreign money from corrupting the vote.”
According to a January 2024 report from OpenSecrets, a nonpartisan watchdog, from 2017 to 2022, companies with more than 5% combined foreign ownership contributed over $163 million in corporate treasury funds to political campaigns in Colorado, Michigan, Minnesota, Montana, New York, and Washington state.
The America First Policy Institute published a report in December 2024 that gave an example of more than $14 million in foreign money that was infused into Ohio ballot initiatives to reduce penalties for fentanyl possession and codify abortion in the state.
According to Sen. Bill Hagerty, R-Tenn., Swiss billionaire Hansjorg Wyss has given more than $500 million in recent years to influence American ballot measures.
In an opinion piece, Hagerty wrote: “According to Wyss’s sister, his ultimate goal in spending hundreds of millions to influence U.S. elections is to ‘interpret the American Constitution in the light of progressive politics.'”
The bill from Banks follows an executive order signed by President Donald Trump in May with the objective of safeguarding U.S. elections from fraud and foreign influence.
The Preserving and Protecting the Integrity of American Elections order states, “Free, fair, and honest elections unmarred by fraud, errors, or suspicion are fundamental to maintaining our constitutional Republic.”
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