National: Foreign-connected PACs spent $10 million on the US election so far | Deutsche Welle
A DW analysis of campaign finance data compiled by the Center for Responsive Politics finds that US subsidiaries of international companies have so far spent almost ten million dollars (9.8 million euros) supporting candidates in this election cycle with most of the contributions coming from European-based firms ($8.6 million). The only other foreign, but non-European-based, companies that have spent money on the US election so far hail from five countries: Japan ($597,000), Israel ($159,000), Canada ($108,000), Mexico ($61,000) and Australia ($32,000). While foreign nationals without permanent US residence status and foreign entities are prohibited from contributing to US elections, American subsidiaries of foreign companies are not. Just like their US counterparts, they can legally establish so-called Political Action Committees (PACs) to collect contributions for political candidates from their US employees and families. All PACs are registered with the Federal Election Commission. “It doesn’t surprise me,” said James Davis, dean of the School of Economics and Political Science at St. Gallen University in Switzerland, when asked about the fact that PACs set up by European-based companies have so far contributed more than eight million dollars to the US election campaign.