Fact check: European companies indirectly investing millions in US elections

European corporations are indirectly contributing around $14.3 million to US electoral campaigns through political action committees (PACs), according to data from non-profit Open Secrets. Despite foreign companies being barred from directly contributing to US campaigns, they can use their American subsidiaries to establish PACs that collect money from American employees and funnel it into elections. This influx of funds from 143 European companies to both Democratic and Republican campaigns during the current electoral cycle is aimed at influencing US policy-making that affects their US-based operations. While these European-linked PACs contribute slightly more to Republican campaigns, the overall impact of foreign funding on US elections is overshadowed by contributions from billionaire donors and super PACs that can spend unlimited amounts on campaigns. The controversial 2010 Supreme Court ruling in favor of Citizens United has paved the way for these super PACs to play a significant role in US politics, with their ability to boost candidates’ campaigns through advertising and social media. Despite the influence of foreign funding in US elections, the focus is increasingly shifting towards the power and legality of super PACs and the potential impact of billionaire donations on electoral outcomes.

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