Post by account_disabled on Mar 7, 2024 3:52:42 GMT
Technically the legislation prohibits donations to political campaigns by foreigners and foreign companies in the United States. In practice this legislation does not work because there is a way around it. American companies even if controlled by foreign corporations can create Political Action Committees PACs and through these organizations act in political campaigns for or against any candidate. Canadian corporations are investing in this year's U.S. congressional elections through PACs Canada's Herald Business and Huff Post reported Sunday .
A PAC – an instrument of the political system in the USA – is formed and operated by corporations unions professional entities and organizations dedicated to some cause and generally maintained by their members. PACs can only receive contributions from people connected to them in some way. For example a corporation's PAC can only receive money from people connected to it such as executives directors employees shareholders – and their families. Each of the Canadian corporations funneling money into the US election has founded its own PAC in the US the publications say based on a survey by the Center for Responsive Politics.
The publications provide some examples of Canadian investments BTC Number Data in US politics. Barrick Goldstrike Mines the American subsidiary of Canada's largest gold producer Barrick Gold Corp. has donated to Democratic and Republican candidates in the state of Nevada where it operates. Grand Trunk WesternIllinois Central Railroad the American subsidiary of Canadian National Railway made donations to Democratic and Republican candidates. The insurance company John Hancock Life Insurance an American subsidiary of Canadian Manulife Financial also made donations to Democratic and Republican candidates.
The formation of PACs by American subsidiaries of foreign corporations to raise money and make contributions to candidates and causes they favor is not entirely new the publications say. But it got a big boost for this year's presidential and congressional elections because of a U.S. Supreme Court decision. In ruling in one case known as Citizens United the Supreme Court allowed the creation of of Super Political Action Committees Super PACS – Super Political Action Committees .
Super PACs can raise unlimited amounts of money from corporations – not just people related to them as well as other organizations to fund advertising campaigns. U.S. Federal Election Commission guidelines require super PACs to disclose only minimal information about the sources of the money they raise the posts say. According to the Washington Post a survey indicated that many contributions could not be tracked either because donors hid behind vaguely defined corporate entities or because PACs did not provide clear information.
A PAC – an instrument of the political system in the USA – is formed and operated by corporations unions professional entities and organizations dedicated to some cause and generally maintained by their members. PACs can only receive contributions from people connected to them in some way. For example a corporation's PAC can only receive money from people connected to it such as executives directors employees shareholders – and their families. Each of the Canadian corporations funneling money into the US election has founded its own PAC in the US the publications say based on a survey by the Center for Responsive Politics.
The publications provide some examples of Canadian investments BTC Number Data in US politics. Barrick Goldstrike Mines the American subsidiary of Canada's largest gold producer Barrick Gold Corp. has donated to Democratic and Republican candidates in the state of Nevada where it operates. Grand Trunk WesternIllinois Central Railroad the American subsidiary of Canadian National Railway made donations to Democratic and Republican candidates. The insurance company John Hancock Life Insurance an American subsidiary of Canadian Manulife Financial also made donations to Democratic and Republican candidates.
The formation of PACs by American subsidiaries of foreign corporations to raise money and make contributions to candidates and causes they favor is not entirely new the publications say. But it got a big boost for this year's presidential and congressional elections because of a U.S. Supreme Court decision. In ruling in one case known as Citizens United the Supreme Court allowed the creation of of Super Political Action Committees Super PACS – Super Political Action Committees .
Super PACs can raise unlimited amounts of money from corporations – not just people related to them as well as other organizations to fund advertising campaigns. U.S. Federal Election Commission guidelines require super PACs to disclose only minimal information about the sources of the money they raise the posts say. According to the Washington Post a survey indicated that many contributions could not be tracked either because donors hid behind vaguely defined corporate entities or because PACs did not provide clear information.