Shareholder Political Transparency Act of 2025

This bill would require publicly traded companies to tell their shareholders—and the public—how they spend money on politics. Companies would file reports every quarter that list each political expense, the date and amount, who it supported or opposed (including the candidate’s name, office, and party), and any trade groups or 501(c) organizations they paid that could use the money for political activity. These reports must be posted online by the SEC in a way that’s easy to search and download . Each year, companies would also include in their annual shareholder report a summary of political spending over $10,000 and their plans and total intended political budget for the next year.

The bill does not count normal lobbying by registered lobbyists, internal messages to shareholders or employees, or running a corporate PAC as “political spending” under these rules. Investment companies, like mutual funds, are not covered. The SEC must check if companies follow the rules and report to Congress, and the Government Accountability Office will review how well the SEC oversees this system .

• Who is affected: Public companies with registered stock; investment companies are excluded.
• What changes: New quarterly reports of each political expense; annual summaries of expenses over $10,000 and next year’s planned political spending; reports posted on the SEC’s website and EDGAR, searchable and downloadable.
• When: The SEC must set up the reporting rules within 180 days of the law taking effect; companies then file quarterly and annual reports under those rules.