Lawmakers Propose $5,000 Cap on Super PAC Donations

On May 20, 2026, Representative Summer Lee and Senator Bernie Sanders introduced the Abolish Super PACs Act, proposing a $5,000 cap on individual donations to super PACs to limit large independent election spending tied to crypto and other interests.

The bill would amend the Federal Election Campaign Act of 1971 to treat independent expenditure committees – the legal category that includes super PACs – like traditional political committees for contribution limits. Under the proposal, any political committee that spends at least $5,000 on independent expenditures in a calendar year or contributes at least $5,000 to other independent expenditure committees would be subject to the cap. Separate accounts set up for independent spending would be covered as well.

The sponsors cited data in the bill showing independent expenditures rose more than 700% between 2008 and 2020, and that in 2024 more than $4.48 billion flowed into U.S. elections through 2,459 registered super PACs. The filing says the top 1% of individual super PAC contributors accounted for 76.76% of individual super PAC money in 2012 and 96.94% in 2024, and that some individual donors gave more than $100 million in recent cycles.

The announcement highlighted growing activity from groups aligned with cryptocurrency, artificial intelligence and foreign policy interests, and projected those groups would spend hundreds of millions of dollars in the 2026 election cycle. The text names several crypto-linked networks, noting one called Fairshake and affiliated groups have taken funding from Coinbase, Ripple and Andreessen Horowitz while backing candidates viewed as favorable to digital assets.

Seventeen House members are listed as initial supporters, with Representatives Ro Khanna, Jim McGovern and Pramila Jayapal named as co-leads. The bill also lists backing from advocacy organizations including End Citizens United, Equal Citizens, Free Speech For People, RepresentUs, Sunrise Movement and Women’s March.

An earlier House version of the proposal remains in the House Administration Committee after referral. If enacted, the new contribution limits would take effect in the first calendar year after the law’s passage and would apply in subsequent election cycles.

The legislation targets the legal framework established after 2010 that allows unlimited contributions to independent expenditure groups. Legal and political analysts say the bill would alter how outside spending is financed and could change the role of wealthy individuals and industry-backed groups in funding large independent advertising campaigns.

The announcement said: “The legislation would cap the contribution limit of individuals to super PACs at $5,000, effectively abolishing them and putting power back into the hands of the people.” Sanders framed the effort as part of broader campaign finance reforms including overturning Citizens United, limiting billionaire influence in elections and expanding public financing options.