Campaign Finance Transparency Act

On May 11, 2026, Rep. Steil (R-WI) introduced HR8720, the Campaign Finance Transparency Act, which was referred to the House Committee on House Administration. The bill amends the Federal Election Campaign Act to require political committees to collect the card verification value/code and billing ZIP code for online credit/debit card contributions. This is a procedural compliance measure, not a spending or tax bill. The bill is in the earliest legislative stage with no committee hearings scheduled, no companion bill in the Senate, and no cosponsors. Passage probability is low in the current Congress. The bill authorizes zero dollars in federal spending. It imposes a compliance requirement on political committees and their payment processors. The affected companies are payment processors like Block, PayPal, and Adyen, but political contribution processing is a tiny fraction of their revenue. No real market data is provided, but the structural impact is trivial. The legislative path requires committee markup, House floor vote, Senate passage, and presidential signature — unlikely given the 119th Congress is in its second session and this is a low-priority bill.