Washington, D.C. – U.S. Senator Catherine Cortez Masto (D-Nev.) cosponsored legislation introduced by Senator Sheldon Whitehouse (D- R.I.) requiring organizations spending money in federal elections to disclose their donors and helping guard against hidden foreign interference in American democracy.
“The American people deserve a fair and transparent political process. No organization that engages in campaign activity should be exempt from disclosing their donors,” said Senator Cortez Masto. “I’m proud to join Senator Whitehouse in introducing legislation to restore accountability to politics and protect our democracy from dark money interests.”
The DISCLOSE Act requires organizations spending money in elections – including super PACs and certain nonprofit groups – to promptly disclose donors who have given $10,000 or more during an election cycle. The bill includes robust transfer provisions to prevent political operatives from using layers of front groups to hide donor identities. The bill includes provisions to crack down on the use of shell corporations to hide the identity of the donor by requiring companies spending money in elections to disclose their true owners, so election officials and the public know who is behind the spending. The DISCLOSE Act also contains a “stand by your ad” provision requiring corporations, unions, and other organizations to identify those behind political ads – including disclosing an organization’s top five funders at the end of television ads. Forty-five Senate Democrats are cosponsoring the legislation.