Follow The Money Bill Proposed For More Transparency in Campaign Financing
Posted at 8:44 a.m. on April 24, 2013
Sen. Ron Wyden, D-Ore., and Lisa Murkowski, R-Alaska, proposed yesterday a campaign finance reform bill to address the influx of anonymous federal election spending. The Follow the Monday Act of 2013 includes the following provisions:
- requires the registration and reporting by any person/group who expends $10,000 or more on independent federal election activity.
- requires real-time reporting and disclosure of contributions.
- applies “Stand By Your Ad” requirements to independent persons/groups.
- increases the threshold for disclose of contributions from $200 to $1,000.
- requires Senate campaigns to file reports electronically.
- requires Section 527 organizations to file disclosure reports with the Federal Election Commission.
- requires the FEC and IRS to work together on enforcement regulations.
For more detail on the proposal, see Wyden press release.