In responding to the Supreme Court ruling in Citizens United, which many fear would unleash a torrent of corporate and union cash into the election fray, restrictions are proposed on allowable spending by foreign-owned entities. But the impact that would have on employee contributions to US subsidiary PACs has prompted bill sponsors to get out the eraser.
According to an article in The Hill, the bill would unintentionally restrict employee contributions to companies like Anheuser-Busch, Shell Oil, Miller Brewing Co., John Hancock Financial Services and Food Lion, which operate last subsidiaries in the US but are primarily owned by foreign interests.
The bill is being chaperoned through the House by Chris Van Hollen (D-MD), and he is working on a manger’s amendment to fix this imperfection.
Van Hollen spokeswoman Bridgett Frey was quoted by The Hill, saying he is “…committed to ensuring that Americans who choose to participate in our democracy through PACs are able to do so, and has no intention of restricting PACs of domestic subsidiaries of foreign parent companies, comprised of American citizens, from being able to continue to function and operate. This issue will be clarified through a technical correction to the bill.”
