Originally published: May 27, 2010
Last updated: May 27, 2010 - 4:15pm
The Congressional Budget Office has completed a cost estimate for the DISCLOSE Act (H.R. 5175).
The bill would amend the Federal Election Campaign Act of 1971 to require that additional campaign-spending information be reported to the Federal Election Commission (FEC) and that additional information be made available to the public. In addition, the legislation would extend or create new prohibitions on political spending by certain government contractors, recipients of funds from the Troubled Asset Relief Program (TARP), and companies controlled by foreign nationals.
CBO estimates that implementing H.R. 5175 would cost $2 million in fiscal year 2011 and about $10 million over the 2011-2015 period, subject to appropriation of the necessary funds. Those amounts would cover additional administrative costs for the FEC to ensure compliance with the bill. Enacting H.R. 5175 could increase revenues and direct spending from the collection of civil and criminal penalties; therefore, pay-as-you go procedures would apply. However, CBO estimates that the net budgetary effect of any additional penalty collections would be negligible for each year.
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