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Crack Down on Dark Money Act
12/30/2022, 8:18 AM
Summary of Bill HR 5997
Bill 117 HR 5997, also known as the Crack Down on Dark Money Act, is a piece of legislation introduced in the US Congress with the aim of increasing transparency and accountability in political campaign financing. The bill seeks to address the issue of "dark money," which refers to funds used to influence elections that come from undisclosed sources.
The Crack Down on Dark Money Act includes several key provisions. Firstly, it requires any organization that spends money on political advertisements to disclose their donors if they exceed a certain threshold. This is intended to shed light on the sources of funding behind political campaigns and prevent wealthy individuals or special interest groups from exerting undue influence on the electoral process.
Additionally, the bill mandates that online platforms such as social media websites and search engines must maintain a public database of all political advertisements purchased on their platforms. This is aimed at increasing transparency in online political advertising, which has become an increasingly important and influential aspect of modern campaigns. Furthermore, the Crack Down on Dark Money Act includes measures to strengthen enforcement of campaign finance laws and increase penalties for violations. This is intended to deter individuals and organizations from engaging in illegal or unethical practices related to campaign financing. Overall, the Crack Down on Dark Money Act represents a bipartisan effort to address the issue of undisclosed political spending and promote greater transparency in the electoral process. By requiring disclosure of donors, regulating online political advertising, and enhancing enforcement mechanisms, the bill aims to protect the integrity of US elections and ensure that the voices of ordinary citizens are not drowned out by wealthy interests.
The Crack Down on Dark Money Act includes several key provisions. Firstly, it requires any organization that spends money on political advertisements to disclose their donors if they exceed a certain threshold. This is intended to shed light on the sources of funding behind political campaigns and prevent wealthy individuals or special interest groups from exerting undue influence on the electoral process.
Additionally, the bill mandates that online platforms such as social media websites and search engines must maintain a public database of all political advertisements purchased on their platforms. This is aimed at increasing transparency in online political advertising, which has become an increasingly important and influential aspect of modern campaigns. Furthermore, the Crack Down on Dark Money Act includes measures to strengthen enforcement of campaign finance laws and increase penalties for violations. This is intended to deter individuals and organizations from engaging in illegal or unethical practices related to campaign financing. Overall, the Crack Down on Dark Money Act represents a bipartisan effort to address the issue of undisclosed political spending and promote greater transparency in the electoral process. By requiring disclosure of donors, regulating online political advertising, and enhancing enforcement mechanisms, the bill aims to protect the integrity of US elections and ensure that the voices of ordinary citizens are not drowned out by wealthy interests.
Congressional Summary of HR 5997
Crack Down on Dark Money Act
This bill prohibits tax-exempt 501(c)(4) social welfare organizations from using more than 10% of their total expenditures on covered political expenditures (i.e., direct or indirect expenditures for an exempt function, including influencing or attempting to influence the selection, nomination, election, or appointment of any individual to any federal, state, or local public office or office in a political organization, or the election of presidential or vice-presidential electors, whether or not such individual or electors are selected, nominated, elected, or appointed).
The bill also requires a social welfare organization that spends funds on political intervention to publicly disclose the name and address of any contributor donating $5,000 or more to such organization. The term political intervention includes advocacy for the election, defeat, nomination or recall of a political candidate, the making of contributions to a political campaign, communications to the electorate about political candidates, and political use of resources.
Read the Full Bill
Current Status of Bill HR 5997
Bill HR 5997 is currently in the status of Bill Introduced since November 17, 2021. Bill HR 5997 was introduced during Congress 117 and was introduced to the House on November 17, 2021. Bill HR 5997's most recent activity was Referred to the House Committee on Ways and Means. as of November 17, 2021
Bipartisan Support of Bill HR 5997
Total Number of Sponsors
1Democrat Sponsors
1Republican Sponsors
0Unaffiliated Sponsors
0Total Number of Cosponsors
6Democrat Cosponsors
6Republican Cosponsors
0Unaffiliated Cosponsors
0Policy Area and Potential Impact of Bill HR 5997
Primary Policy Focus
TaxationAlternate Title(s) of Bill HR 5997
Crack Down on Dark Money Act
Crack Down on Dark Money Act
To amend the Internal Revenue Code of 1986 to prohibit 501(c)(4) entities from using more than 10 percent of total expenditures on certain political expenditures, and for other purposes.
Comments
Sponsors and Cosponsors of HR 5997
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