# Real Time Transparency Act of 2021

This bill requires political campaigns and committees to report large donations much faster than they currently do. Right now, campaigns can wait until their next scheduled filing deadline to disclose who gave them money. This bill would force them to report any donor who has given $1,000 or more in a calendar year within just 48 hours of hitting that threshold.

Here's how it works in practice: If someone donates $600 to a campaign, nothing needs to be reported yet. But when that same person donates another $500 later in the year—bringing their total to $1,100—the campaign would have to notify the Federal Election Commission within two days. If that donor gives another $1,000 later, the campaign reports that too within 48 hours. The reports would include the donor's name, the amount, and the date received, so the public could see who's funding campaigns almost in real time rather than waiting weeks or months.

The main idea behind this bill is transparency. Currently, wealthy donors can give money to campaigns and it might not become public knowledge for a while. By requiring rapid reporting, the bill aims to let voters know quickly who is funding the candidates they're considering. Supporters argue this helps people make informed voting decisions. Critics might worry about the administrative burden on campaigns to track and report donations so quickly, or they might have concerns about donor privacy. The bill would take effect starting in 2021 for any donations received after it becomes law.

Real Time Transparency Act of 2021

Rep. Schneider, Bradley Scott [D-IL-10]

Real Time Transparency Act of 2021 This bill revises the notification requirement for campaign contributions of $1,000 or more. Specifically, the bill applies this requirement to (1) any political committee, not just a candidate's principal campaign committee; and (2) cumulative contributions of $1,000 or more during a calendar year, instead of only single contributions that are received by a committee less than 20 days but more than 48 hours before the day of an election. Only the Federal Election Commission (FEC) must be notified within 48 hours of receiving these contributions, instead of the FEC and others. Any amount transferred by a joint fundraising committee established by a candidate's authorized committee to any other authorized committee of that candidate shall be treated as a contribution.