Prohibiting Foreign Influence in American Elections Act - Amends the Federal Election Campaign Act of 1971 to apply the ban on contributions and expenditures by foreign nations in connection with a federal, state, or local election to domestic corporations with respect to which: (1) one or more foreign principals serves on the board of directors; (2) one or more foreign principals directly or indirectly has an ownership interest; or (3) one or more foreign principals directly or indirectly holds debt or other obligations.
Applies the ban to domestic corporations that are subsidiaries of foreign corporations.