Rep. Bryan Steil calls to close loophole allowing foreign billionaires to influence US elections

House Representative Bryan Steil (R-WI) says the House Administration Committee uncovered an election donation loophole that allows foreign billionaires to transfer money to 501c charities. “40% of those funds can currently, under current law, be transferred into super PACs to run political ads,” he explains. “So in other words, a foreign billionaire can transfer an unlimited amount of money into the United States and 40% of that can be used for political purposes. This is a clear loophole that allows foreign money to be impacting US elections.”