Get Foreign Money Out of U.S. Elections Act

Senator Whitehouse (D-RI) introduced S5075, the Get Foreign Money Out of U.S. Elections Act, on July 22, 2026. The bill was read twice and referred to the Committee on Rules and Administration, indicating it is in the earliest legislative stage. The bill proposes to amend the Federal Election Campaign Act of 1971 to expand the ban on foreign national contributions and expenditures to include domestic business entities that are foreign-controlled, foreign-influenced, or foreign-owned. Specifically, it targets entities where a foreign national owns 50% or more, or where foreign nationals collectively own 5% or more, with a 1% threshold for individual foreign ownership. The bill has 12 cosponsors, all Democrats or Independents, suggesting limited bipartisan support. No funding is authorized or appropriated by this bill; it is a regulatory measure. The legislative path is long—it must pass the Senate Rules Committee, the full Senate, the House, and be signed by The President. Given the partisan nature and early stage, near-term market impact is minimal. No publicly traded companies are directly affected by this bill, as it targets campaign finance practices rather than specific industries or corporate operations. The bill does not create contracts, grants, or tax incentives for any sector.