The purpose of this legislation, known as the Campaign Transparency Act, is to enhance transparency in political contributions for federal elections. It aims to remove the existing monetary thresholds that determine when political committees must report the identities of individuals who contribute to them. The key provision of this law is the elimination of the $200 threshold for reporting contributions. Under current law, political committees are only required to disclose the names of contributors who give more than $200 in a calendar year or election cycle.