House Panel Advances Foreign Funding Bill 23-18, Targeting Tax-Exempt Groups' Overseas Donations
Updated
Updated · Fox News · Jul 28
House Panel Advances Foreign Funding Bill 23-18, Targeting Tax-Exempt Groups' Overseas Donations
3 articles · Updated · Fox News · Jul 28
Summary
A 23-18 House Ways and Means Committee vote advanced the Foreign Funding Transparency Act, which would force tax-exempt organizations to collect and report foreign-national donations to the IRS.
Lawmakers say the measure grew out of a committee investigation that found foreign money may be moving through nonprofit networks into political activity while groups retain tax-exempt status.
Jason Smith said the probe uncovered "shadowy networks" that make organized, well-funded campaigns appear grassroots, and the committee has already issued subpoenas in the investigation.
Neville Roy Singham featured prominently in the committee's messaging: Fox News Digital said he funneled $278 million into a broader nonprofit network since 2017, part of an alleged $591 million dark-money operation.
The vote also fits a wider Trump administration push after Marco Rubio urged more than 60 countries this month to coordinate against far-left extremist networks and their financing.