The Chamber of Commerce is catching hell for allowing foreign companies to put their cash into U.S. political campaigns. The Chamber has targeted several prominent Democrats, including Rep. Tom Perriello from Virginia, Joe Sestak in Pennsylvania, and others. They have said they will spend $75 million, an amount that dwarfs the resources of even the best fundraisers in Congress.
The Chamber denies that it is using foreign money for its campaign ads, that it keeps foreign dollars segregated from domestic, political accounts. But money is fungible, which leads to an irony. Last summer, when the Capps Amendment was introduced to allow insurance companies to segregate funds used for abortion services from funds they got from the federal government, conservatives objected, noting that money is fungible. Now, it is the Democrats who point to the fungible quality of cash to blast the Chamber of Commerce.