PACs linked to foreign companies legally donate millions to U.S. campaigns

[Joanne98]

Source: WP

As Democrats and Republicans spar over whether foreign money is polluting the midterm elections, a simple point is often overlooked: Hundreds of foreign corporations already play an integral and perfectly legal role in American politics through their U.S. subsidiaries.

Political-action committees connected to foreign-based corporations have donated nearly $60 million to candidates and parties over the past decade, including $12 million since 2009, federal contribution records show. Top donors this cycle include PACs tied to British drugmakers GlaxoSmithKline and AstraZeneca, which together account for $1.1 million; Belgium's Anheuser-Busch InBev, with $650,000; and Credit Suisse Securities, at $350,000.

The donations must come from U.S. citizens or residents, and they make up a small fraction of overall political giving. Nonetheless, the role of foreign firms and their U.S. subsidiaries has become particularly sensitive in this year's emotionally charged midterm campaigns, which have featured widespread voter dismay over the economy and eruptions of strident anti-foreign rhetoric from both parties.

Democrats have made a campaign issue over speculation that the U.S. Chamber of Commerce may be using foreign dues to help pay for a $75 million pro-Republican ad campaign, a charge the organization adamantly denies. White House advisor David Axelrod, appearing on CNN's "State of the Union," on Sunday attempted to shift the thrust of the criticism to the more general issue of undisclosed donors.



Read more: http://www.washingtonpost.com/wp-dyn/content/article/2010/10/17/AR2010101701916.html?hpid=topnews

[bemildred]

1. So WaPo is defending this?

:puke:

[PSPS]

3. Of course they are. They depend on their ad revenue.

These foreign companies buy a lot of ad space in the Post.

[leveymg]

2. "David Axelrod . . . attempted to shift the thrust of the criticism to the more general issue"

Thought you were leaving the White House, David? Well, whenever you're ready. Please, no more public statements on your way out.

[ProSense]

5. WaPo spin

Axelrod was good

[ProSense]

4. The media is on the defensive

Media still trying to cover for the Chamber of Commerce