DISCLOSE Act of 2026

This bill would expand the prohibition on campaign spending by foreign nationals to include digital communications, judicial nomination advocacy, and ballot initiatives. It proposes new disclosure requirements for organizations spending more than $10,000 on elections and would require political advertisements to identify an organization's top donors. Additionally, the measure would establish criminal penalties for using business entities to conceal foreign campaign contributions and would require the Government Accountability Office to study illicit foreign money in federal elections.

This bill affects foreign nationals by expanding prohibitions on their ability to fund digital communications, federal judicial nomination communications, and ballot initiatives. Covered organizations, including corporations, labor organizations, and political organizations, are subject to new reporting requirements for campaign expenditures exceeding $10,000 and must disclose top donors in political advertisements. Additionally, the Federal Election Commission receives these reports, while the Government Accountability Office is tasked with conducting quadrennial studies on illicit foreign money in elections.

• Expansion of foreign national spending prohibitions. The bill extends the ban on campaign spending by foreign nationals to include paid digital communications and federal judicial nomination communications. It also prohibits foreign nationals from contributing to state or local ballot initiatives and referenda.
• Penalties for concealing foreign election contributions. The legislation establishes criminal penalties, including fines and up to five years in prison, for establishing or using an entity to hide campaign contributions made by foreign nationals.
• Reporting requirements for large campaign expenditures. Covered organizations, such as corporations and labor unions, must file reports with the Federal Election Commission within 24 hours of making campaign expenditures exceeding $10,000 in an election cycle.
• Enhanced disclosure for political advertisements. Organizations must provide additional information regarding political advertisements, including identifying the donors who provided the largest financial contributions to the organization over the previous year.
• GAO study on illicit foreign money. The Government Accountability Office is required to conduct a study and issue a report every four years regarding the presence of illegal foreign money in federal elections.

This bill expands existing prohibitions on campaign spending by foreign nationals to include digital communications and judicial nominations, while also establishing new reporting requirements for covered organizations to disclose expenditures to the Federal Election Commission.

The bill aims to increase transparency in federal elections by expanding prohibitions on foreign campaign spending and requiring organizations to provide more detailed disclosures regarding large expenditures and the funding sources for political advertisements.