DISCLOSE Act of 2026

This bill would expand the prohibition on foreign nationals contributing to U.S. elections to include digital communications, judicial nomination efforts, and ballot initiatives. It proposes requiring corporations and other organizations to disclose campaign expenditures exceeding $10,000 to the Federal Election Commission within 24 hours. Additionally, the legislation would mandate that political advertisements identify an organization's top donors and would establish criminal penalties for using entities to conceal foreign election contributions.

This bill affects foreign nationals by expanding prohibitions on their ability to fund digital communications, 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 their top donors in political advertisements. Additionally, the Federal Election Commission will receive 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, federal judicial nomination communications, and contributions related to ballot initiatives or referenda.
• Criminalization of foreign contribution concealment. It establishes criminal penalties, including fines and up to five years in prison, for creating or using an entity to hide election contributions made by foreign nationals.
• Enhanced disclosure requirements for covered organizations. Corporations, labor unions, and political organizations must report campaign expenditures exceeding $10,000 to the Federal Election Commission within 24 hours.
• Political advertisement donor transparency. Organizations are required to disclose additional information regarding political advertisements, including identifying the donors who provided the most funding to the organization over the previous year.
• GAO study on illicit foreign election money. The Government Accountability Office is directed to conduct a study and issue a report every four years regarding the presence of illegal foreign funds in federal elections.

The bill expands existing prohibitions on foreign money in elections and modifies disclosure requirements for covered organizations, such as corporations and labor unions, regarding campaign expenditures and political advertisements. It also mandates that the Government Accountability Office conduct recurring studies on illicit foreign money in federal elections.

The bill aims to strengthen transparency in federal elections by expanding prohibitions on campaign spending by foreign nationals and requiring covered organizations to provide additional disclosures regarding campaign expenditures and the donors funding political advertisements.