Congress·In Committee·S. 3991

Sen. Whitehouse and Senate Democrats Push DISCLOSE Act to Reveal "Dark Money" Donors

DISCLOSE Act of 2026

15 days ago·View on Congress.gov

Legislative Progress

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Law

Key Points

The bill requires organizations spending over $10,000 on election-related activities to disclose their donors within 24 hours. Corporations, labor unions, Super PACs, and 501(c) nonprofits must report the names and addresses of anyone who gave them $10,000 or more, ending the era of anonymous 'dark money' in politics.
From policy text
“Any covered organization that makes campaign-related disbursements aggregating more than $10,000 in an election reporting cycle shall, not later than 24 hours after each disclosure date, file a statement with the Commission made under penalty of perjury”
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Political ads on TV, radio, online, and digital platforms must include a 'Stand By Every Ad' disclaimer. The head of the group paying for the ad must appear and say they approve the message, and the ad must list the top five biggest financial backers so voters know who is behind the message.
From policy text
“I am ________, the ________ of ________, and ________ approves this message.”
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The bill closes loopholes that allow foreign money into U.S. elections. It bans foreign spending on state and local ballot measures, prohibits using shell companies to hide foreign donations, and creates a new criminal penalty of up to 5 years in prison for setting up a corporation to conceal foreign election spending.
From policy text
“It shall be unlawful for an owner, officer, attorney, or incorporation agent of a corporation, company, or other entity to establish or use the corporation, company, or other entity with the intent to conceal an activity of a foreign national”
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For the first time, disclosure rules would also cover money spent to influence federal judicial nominations, including Supreme Court picks. Groups spending over $10,000 on ads promoting or opposing a judicial nominee would have to reveal their donors, just like election spending.
From policy text
“a disbursement by a covered organization for a Federal judicial nomination communication shall be treated as a campaign-related disbursement”
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The new disclosure and disclaimer rules would mostly take effect on January 1, 2027, and apply regardless of whether the FEC has finalized regulations. The Government Accountability Office would also study foreign money in elections every four years through 2036.
From policy text
“The amendments made by this title shall apply with respect to disbursements made on or after January 1, 2027, and shall take effect without regard to whether or not the Federal Election Commission has promulgated regulations to carry out such amendments.”
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Impact Analysis

Personal Impact

Who is affectedScoreImpactCertaintyScopeDurationSentiment

Scores: 1 = low, 5 = highSentiment: -5 to +5 (net benefit)

Milestones

2 milestones2 actions

Mar 4, 2026Senate

Read twice and referred to the Committee on Rules and Administration.

Mar 4, 2026

Introduced in Senate

What Happens Next

Projected impacts based on AI analysis

6 months after enactment

FEC must finalize regulations on harassment exemption

Within 6 months of enactment, the FEC must set rules for when donors can be kept anonymous due to credible threats of harassment — an important safety valve in the new disclosure system.

1 year after enactment

First GAO report on foreign money in elections due

The Government Accountability Office must publish its first study on how much illicit foreign money entered U.S. elections, including which communities were targeted. This report covers the 2024 election cycle.