May 15, 2026
To close those potential loopholes for fraud, the Campaign Finance Transparency Act would require political donations made via credit or debit card to include a CVV/CVC number, billing zip code, and a name that matches the name of the donor.
It would also prohibit political contributions via prepaid gift cards and require platforms to report all political donations, not just those over a certain dollar amount.
Contributions made from donors without a U.S. mailing address would require document verification to ensure that foreign actors are not using American identities to funnel money to preferred political candidates.
The other two bills sent to the House floor – the Preventing Foreign Interference in American Elections Act and the Stop Foreign Funds in Elections Act – aim to prevent foreign money from influencing how U.S. elections are conducted and what proposals make it to the ballot.
"Foreign nationals cannot be allowed to influence American elections,” Steil said. "That’s why I introduced the Preventing Foreign Interference in American Elections Act, which bans foreign nationals from donating to electioneering activities. This includes voter registration, get out the vote efforts, and ballot harvesting.”
In 2024, foreign billionaires moved money through nonprofit "dark money” groups like the Sixteen thirty Fund to support progressive ballot initiatives related to abortion access and automatic voter registration in multiple states, including Ohio, Arizona and Nevada. Such activities are currently legal at the federal level.
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