We have received text from H.R. 9874: Get Foreign Money Out of United States Elections Act. This bill was received on 2026-07-22, and currently has 70 cosponsors.

Here is a short summary of the bill:

This bill would expand federal election laws that already ban foreign nationals from contributing to or spending money in U.S. elections. It would apply those restrictions not only to foreign individuals, but also to certain

U.S.-based business entities

that are owned, controlled, or significantly influenced by foreign nationals outside the United States.

What counts as a covered business entity

The bill defines covered entities broadly to include for-profit corporations, LLCs, partnerships, companies, limited partnerships, business trusts, business associations, and similar for-profit organizations.

A domestic business entity would be treated as covered if it meets any of these conditions:

• A foreign national outside the U.S. owns or controls 50% or more of the entity.
• A foreign national outside the U.S. owns or controls 1% or more of the entity, and the entity is not already covered under the 50% rule.
• Two or more such foreign nationals together own or control 5% or more of the entity.
• One or more such foreign nationals have power to direct or control the entity’s decisionmaking about its U.S. interests or about election-related activity.

New certification requirement

If a business entity makes a political contribution, expenditure, independent expenditure, electioneering communication payment, or certain other election-related disbursements, its top executive would have to file a certification with the Federal Election Commission within 7 days. The certification would state, under penalty of perjury, that the business entity was not a foreign national when the spending occurred.

For publicly traded companies, the bill says beneficial ownership would be determined under securities-law rules. The entity would also have to give a copy of the certification to the political committee or other recipient, if requested.

Limits on passing along covered funds

The bill would also prohibit recipients from using money that came from a covered business entity, unless they have the required certification and keep those funds separate and properly tracked. In other words, money from a covered entity could not simply be mixed in and used for political spending unless it is clearly documented and compliant.

People and organizations could rely in good faith on the certification they receive.

Effect on corporate PACs

The bill would add new conditions for corporate separate segregated funds (corporate PACs). A corporate PAC could not make contributions or expenditures in a year unless it certifies that:

• the people managing the fund are U.S. citizens or lawful permanent residents;
• no foreign national participates in decisions about the fund’s political spending; and
• the fund does not solicit or accept recommendations from foreign nationals about its political spending.

It also states that any foreign national board member of the parent corporation must abstain from voting on matters involving the fund or its activities.

Clarifications to the foreign money ban

The bill would clarify that the foreign money ban applies to spending on state and local ballot initiatives, referendums, and recall elections, as well as to donations or transfers to certain political committees that accept money outside normal federal campaign rules, including Super PACs.

When the changes would take effect

The changes would take effect 180 days after enactment, even if the Federal Election Commission has not yet issued new regulations.

Relevant Companies

• BABA — Alibaba Group Holding Ltd. could be affected if its ownership or control structure is found to meet the bill’s foreign-ownership or foreign-control thresholds and it engages in U.S. political activity through a U.S. entity.
• TCEHY — Tencent Holdings Ltd. could be affected in similar circumstances if a domestic subsidiary or affiliated entity were used for U.S. election-related spending.
• NSRGY — Nestlé S.A. could be affected if a U.S. business entity it controls were involved in political spending and met the bill’s foreign-ownership or foreign-influence tests.
• SHEL — Shell plc could face added compliance requirements for any U.S. corporate PAC or U.S. entity with foreign-national ownership or control involved in election-related spending.
• BP — BP plc could be affected in the same way if its U.S. political spending vehicles are covered under the bill.
• RDS.A — Shell-related legacy listings are included for completeness, though current trading may use other tickers depending on the market venue; U.S. political spending by foreign-controlled entities would face the bill’s new certification and restriction rules.

Representative Jamie Raskin Bill Proposals

Here are some bills which have recently been proposed by Representative Jamie Raskin:

• H.R.9874: Get Foreign Money Out of United States Elections Act
• H.R.9688: High Court Gift Ban Act
• H.R.9600: Common Sense 250 Act of 2026
• H.R.9210: BLANCHE Act of 2026
• H.R.8993: Federal Funding Protection Act
• H.R.8992: SCCOTUS Act

You can track bills proposed by Representative Jamie Raskin on Quiver Quantitative's politician page for Raskin.

Representative Jamie Raskin Net Worth

Quiver Quantitative estimates that Representative Jamie Raskin is worth $16.0M, as of July 29th, 2026. This is the 82nd highest net worth in Congress, per our live estimates.

Raskin has approximately $5.6M invested in publicly traded assets which Quiver is able to track live.

You can track Representative Jamie Raskin's net worth on Quiver Quantitative's politician page for Raskin.

Representative Jamie Raskin Stock Trading

We have data on up to $600.0K of trades from Representative Jamie Raskin, which we parsed from STOCK Act filings. Some of the largest trades include:

• A July 2nd, 2024 sale of up to $100K of $IXNZF.

You can track Representative Jamie Raskin's stock trading on Quiver Quantitative's politician page for Raskin.

2026 Maryland's 8th Congressional District Election

There has been approximately $8,704,116 of spending in Maryland's 8th congressional district elections over the last two years, per our estimates.

The rating for this race is currently "Solid D".

You can track this election on our matchup page for the 2026 Maryland's 8th congressional district election.

This article is not financial advice. See Quiver Quantitative's disclaimers for more information.

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