DISCLOSE Act of 2026

Key Points

• Groups like corporations, labor unions, and Super PACs that spend more than $10,000 on elections must report their major donors to the Federal Election Commission within 24 hours. Donors giving $10,000 or more must be named, bringing so-called 'dark money' into the open so voters can see who is trying to influence their choices.
• The bill closes loopholes that let foreign nationals and foreign governments spend money on U.S. elections, including state and local ballot measures. It also makes it a federal crime, punishable by up to 5 years in prison, to set up a shell company to hide foreign election spending.
• Money spent to promote, support, attack, or oppose federal judicial nominations would be subject to the same disclosure rules as election spending. Groups that run ads about Supreme Court or other federal court nominees would have to reveal their donors, closing a major gap in current law.
• Political ads in video format must display the top five donors who funded the ad. Audio ads must name the top two donors. The head of the organization paying for the ad must personally appear and say they approve the message, similar to the 'I approve this message' requirement for candidates.
• Most of the new disclosure and disclaimer rules take effect on January 1, 2027, giving organizations and the FEC time to prepare. The bill also requires the FEC to issue regulations within 6 months and directs the Government Accountability Office to study foreign money in elections every four years.