Arguing that anonymous political donations, or “dark money,” is eroding public trust, President Joe Biden on Tuesday called on Congress to pass a bill that would create more transparency.

Senate Majority Leader Chuck Schumer, D-N.Y., announced Monday the chamber will vote on the DISCLOSE Act this week. The bill, introduced by Sen. Sheldon Whitehouse, D-R.I., would require super PACs and other political groups to reveal donors who contribute $10,000 or more in an election cycle. 

It also would require groups spending money to support judicial nominees to disclose their donors and ban foreign nationals from contributing to campaigns related to ballot initiatives. Federal law already prohibits foreign nationals from donating to candidates or committees supporting candidates.

“It’s best our democracy serves all people equally, no matter wealth or privilege,” Biden said during a White House speech just before leaving for New York to attend the United Nations General Assembly. “But here's the deal: There's much too much money that flows in the shadows to influence our elections. It's called dark money. It's hidden. Right now, advocacy groups can run ads on issues, attacking or supporting a candidate right until Election Day without disclosing who’s paying for that ad.”

Biden cited as an example a report last month that a wealthy donor helped the conservative nonprofit group Marble Freedom Trust secure a $1.6 billion windfall.

According to The New York Times, the gift came after Barre Seid, an electronics manufacturing mogul, donated 100 percent of the shares of the electrical device manufacturing company Tripp Lite to the nonprofit just before the company was sold for $1.65 billion. 

“As far as we know, that’s one of the biggest dark money transfers in our history,” Biden said. “And here's the deal:  The public only found out about this $1.6 billion transfer because someone tipped off some of your reporters. Otherwise, we still wouldn't know about.”

The DISCLOSE Act was part of a larger voting rights package passed by House Democrats in January in response to a wave of Republican-led states restricting voting. That package, however, died in the Senate.

The bill is also expected to fail in the Senate due to opposition from Republicans, who have argued that companies have the right to express themselves through anonymous donations.

But Biden sought Tuesday to cast “dark money” donations as an issue plaguing both parties. He also noted campaign finance reform was an important issue for the late Republican Sen. John McCain.

“Republicans should join Democrats to pass the Disclosure Act and get it on my desk right away,” Biden said. “Dark money has become so common in our politics. I believe sunlight is the best disinfectant.

“And I acknowledge it's an issue for both parties. But here's the key difference: Democrats in the Congress support more openness and accountability; Republicans in Congress so far don't. I hope they'll come around.”

According to website Open Secrets, more than $1 billion in “dark money” was spent on federal elections in 2020, most of it boosting Democrats.