H.R. 5237: Campaign Transparency Act

The Campaign Transparency Act aims to amend the Federal Election Campaign Act of 1971. The primary purpose of this bill is to eliminate the current thresholds that dictate when political committees must report the identification of individuals contributing to them for Federal elections. Specifically, the bill proposes the following changes:

Elimination of Contribution Reporting Thresholds

The bill proposes to remove the current requirement that only contributions exceeding $200 within a calendar year (or election cycle) need to be reported. This means:

• Political committees would be required to disclose the identities of all individuals contributing to them, regardless of the amount contributed.
• Contributors of both small and large amounts would be identified in reports, increasing transparency in the campaign finance process.

Focus on Political Committees

The bill specifically applies to political committees involved in elections for Federal office, meaning it targets organizations that support candidates for offices such as the U.S. Senate or House of Representatives.

Effective Date

If enacted, the changes would take effect for reports that are required to be filed under the Federal Election Campaign Act after the bill's enactment date.

Implications

By removing these thresholds, the bill aims to provide voters with more information about who is financially supporting political candidates and parties. This could lead to increased scrutiny of contributions and potentially influence public perception of candidates based on their funding sources.

Relevant Companies

None found