Congress moves to unmask dark money in elections and courts
S. 3991 — DISCLOSE Act of 2026 · Filed by Sheldon Whitehouse (D-RI) · 46 cosponsors · Introduced Mar 4, 2026 · Referred to committee
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What it does
This bill requires corporations, labor unions, Super PACs, and other organizations that spend more than $10,000 on elections to disclose their major donors within 24 hours of spending. It also closes loopholes allowing foreign nationals to funnel money into U.S. elections through shell corporations, requires disclosure of spending on federal judicial nomination campaigns, and mandates that political ads include the names of top funders.
Why we flagged it
The bill's core mechanism is mandatory disclosure of campaign spending and donor identity, combined with enforcement of existing prohibitions on foreign nationals' election spending. It is fundamentally a transparency and anti-corruption measure, not a restriction on speech or spending itself.
What the text implies
- The 24-hour disclosure requirement may create operational burden for organizations making rapid-response spending decisions, potentially chilling some legitimate political speech if compliance costs are high.
- The 'covered transfer' definition casts a wide net—any transfer of $50,000+ to another organization that might spend on elections triggers disclosure, which could expose donor networks across affiliated nonprofits and labor unions.
The full analysis lists 5 implications of this text.
Who it affects
The bill strengthens democratic accountability by requiring disclosure of who funds political spending and judicial nomination campaigns, allowing voters to identify potential conflicts of interest and corruption risks. It also closes foreign money loopholes that undermine electoral integrity.