527s do not have to file with Federal Election Commission. They do not have to file with the IRS unless they have taxable income. And even if they do file with the IRS, they don't have to make their returns public. They don't have to admit who is behind their organizations. They don't even have to admit they exist.
People think PACs are bad.
527 groups are to PACs what Uzis are to BB guns. They have a much greater potential to damage the integrity of our election system. That is why I am a lead cosponsor of the bill on which this amendment is based and a cosponsor of this amendment. While the amendment we are considering today does not do everything our broader bill does, it is an important first step. I intend to vote for it, and I urge my colleagues to vote for it as well.