from Great Game India:
Swiss billionaire Hansjörg Wyss has a strong interest in American politics. He’s put $475 million earned from making medical devices into left-wing groups, with $72 million given in 2021 alone, according to a report by conservative watchdog Americans for Public Trust.
TRUTH LIVES on at https://sgtreport.tv/
Though foreigners can’t directly donate to politics, Wyss has given generously to progressive political groups. The New York Times reported in 2021 that these include the “Center for American Progress and Priorities USA,” plus groups that did voter registration, boosted Democratic turnout, ran biased news outlets, and aimed to block Trump’s actions. Since 2016, he’s given $245 million to Arabella Advisors, which controls a network of progressive nonprofits. Arabella raised $1.6 billion in 2021 and was called “The Massive Progressive Dark-Money Group You’ve Never Heard Of” by The Atlantic.
Critics say Wyss’ giving reveals a big gap in political finance. It lets wealthy foreigners essentially wash their donations, and it is used more by Democrats than Republicans. This could explain why House Republicans, on Aug. 14, launched an inquiry into whether tax-exempt groups follow rules against foreign funds influencing US elections. The House Ways and Means Committee wrote an open letter (read below) on this, focusing on one foreign donor, Hansjörg Wyss.
Marneé Banks, spokesperson for the key players in Wyss’ political donations, told RCI that “The Wyss Foundation and Berger Action Fund prohibit their grants from being used to support or oppose political candidates or parties or to fund get-out-the-vote or voter registration activities.” She said, “Both organizations comply with the rules and laws governing their activities, and they support increasing transparency in our campaign finance system.”
Read More @ GreatGameIndia.com
