The Foreign Funding Transparency Act addresses IRS nonprofit reporting requirements
Three far-left nonprofits sued in House probe of billionaire Neville Roy Singham
Gordon Chang, senior fellow at the Gatestone Institute and author of 'Plan Red,' joins 'The Big Weekend Show' to discuss Marxist billionaire Neville Roy Singham. Chang exposes the funding of Singham's $591 million black money network that is allegedly not for profit and contributes to anti-US activities, possibly with ties to the Chinese Communist Party. The House Ways and Means Committee issued subpoenas for its investigation.
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Lawmakers want to expose foreigners who may be charging money and donations through tax-exempt organizations to political committees as the House Ways and Means Committee passes a bill that would revise reporting requirements for tax-exempt groups.
The Foreign Funding Transparency Act, which passed 23-18 in committee last Wednesday, would require tax-exempt organizations to collect and report to the Internal Revenue Service (IRS) donations received from foreigners.
“For too long, foreign influence and interference have plagued our tax-exempt sector,” said committee Chairman Jason Smith, R-Mo., in a statement. “Foreign donations have no place in American politics, especially when the sole purpose is to manipulate our public discourse, promote propaganda and support violence.”
Smith noted that many of the protests and demonstrations taking place across the US appear low-key but are in fact well-organized and financed, often by groups within what he described as “shadow networks.”
“As the Ways and Means Committee conducted its investigation into the country's tax-exempt sector, it became clear that dark networks of well-funded organizations have for decades enjoyed lucrative tax benefits, while at the same time accepting donations and guidance from outsiders,” added Smith. “From the outside, it looks like it's moving, but when you see how the money flows, it's clear that this is a machine,” he added.
The passage of the bill came a week after Secretary of State Marco Rubio called for global cooperation at a conference in Washington to combat far-left political terrorism.
SHANGHAI SABOTAGE: INSIDE SINGHAM'S SECRET PLOT TO BREAK AMERICA
“However, for too long, our counterterrorism doctrine has been spotty — a blind spot when it comes to radical left-wing violence,” Rubio said. “Even today, the very idea that left-wing terrorism could pose a serious threat is regarded as a right-wing fever dream, or worse, a dangerous fascist conspiracy.”
Although Rubio did not name any organizations or individuals, the House Ways and Means Committee noted Marxist Neville Roy Singham in a statement regarding the bill's passage.
Singh, a 72-year-old American now based in Shanghai who sold his tech company for $785 million in 2017, is known for sponsoring Chinese Communist Party groups operating in the US.
Funding by nonprofit networks has been a major point of concern for lawmakers and the Trump administration. Major donors, including Singham, have often distributed funds through shell 501(c)(3) nonprofits, which are later donated to various tax-exempt organizations.
RUBIO'S CALL TO FIGHT GLOBAL SPENDERS OF REMOTE TERRORISM COULD PUT SINGHAM IN THE CROSSROADS
During his speech in more than 60 countries earlier this month, Rubio noted that the networks were coordinating in many countries, providing training instructions and using encrypted communications to facilitate unrest. He said that international cooperation is important to disrupt the funding of dangerous organizations, some of which work with hostile foreign nations.
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Singh did not respond to Fox News Digital's requests for comment.
