The House Ways and Means Committee has passed the Foreign Funding Transparency Act, a bill designed to enhance reporting requirements for tax-exempt organizations and expose potential foreign influence in U.S. politics. The legislation, approved by a 23-18 vote, would mandate that tax-exempt groups collect and report donations received from foreign nationals to the Internal Revenue Service (IRS).
Committee Chairman Jason Smith, R-Mo., stated that the bill addresses foreign donations that have no place in American politics, particularly when intended to manipulate public discourse, promote propaganda, or support violence. Smith noted that numerous protests and demonstrations across the U.S., which may appear to be grassroots movements, are in fact well-organized and funded, often through what he described as "shadowy networks."
"For far too long, however, our counterterrorism doctrine has had a blind spot – a blind spot when it comes to extremist violence from the political left," Senator Marco Rubio stated recently, calling for global cooperation to combat far-left political terrorism. While Rubio did not name specific individuals or organizations, the House Ways and Means Committee referenced Marxist millionaire Neville Roy Singham in connection with the bill's passage. According to committee statements and a Fox News Digital investigation, Singham, an American expatriate living in Shanghai, has allegedly funneled $278 million since 2017 into a network of nonprofits, some of which are reportedly pro-Chinese Communist Party and have operated in the U.S.
Lawmakers are concerned about foreign nationals potentially funneling money and donations through tax-exempt organizations to political committees within the United States. The use of shell 501(c)(3) nonprofits to disperse funds to various tax-exempt organizations has been a focal point for both lawmakers and the previous Trump administration. Rubio has also highlighted that some of these networks coordinate across countries, provide training, and utilize encrypted communications to facilitate unrest, emphasizing the need for international cooperation to disrupt the financing of such groups, some of which he suggested may be working with hostile foreign states.
Neville Roy Singham has not responded to requests for comment.