Get Foreign Money Out of U.S. Elections Act

HR 8988, the "Get Foreign Money Out of U.S. Elections Act," expands federal law to prohibit foreign-controlled businesses from influencing U.S. elections. It bans contributions or spending by any for-profit business entity where foreign nationals own 50% or more of voting shares, or where foreign entities collectively own 5% or more (or exert control over election activities). Businesses must certify compliance before making election-related spending, including contributions to political committees, and recipients cannot reuse uncertified funds for further election activities. This bill directly affects foreign-owned corporations, partnerships, and similar entities seeking to participate in U.S. elections.