When the U.S. Supreme Court decided that corporations could spend unlimited amounts of money from their corporate treasuries in U.S. elections (Citizens United v FEC, 2010), they justified the decision by saying that U.S. corporations were “associations of citizens.”

However, over 40% of all the shares held in US corporations are held by foreign investors, not U.S. citizens, living outside of the U.S. These corporations then spend millions in California elections, even though U.S. election law stipulates that no foreign money is allowed in U.S. elections, contributed either “directly or indirectly.”

Citizens United opened a loophole: Foreign governments, foreign businesses and foreign individuals can invest in U.S. corporations, and those corporations can spend unlimited amounts from their corporate treasuries on U.S. elections.

 AB 83, the Get Foreign Money Out of California Elections Act, closes the loophole that allows foreign money to pour into California campaigns, candidates, political parties, PACs, Super-PACS and ballot measures “indirectly", undermining our capacity for self-governance.

Earlier this year, Minnesota closed the loophole, prohibiting multinational corporations from spending money on state elections. We can do the same in California. Multinational influence is a threat to U.S. sovereignty and to our national security – international interests can easily, and often do, diverge from U.S. interests. There should not be any foreign money in our elections.

Join us in support of AB 83 and urge the California Assembly to pass this legislation and close this loophole immediately.

 Sign now in support of AB 83, the Get Foreign Money Out of California Elections Act.