Zoe Lofgren: “I disagree with this amendment. It would strike section 4208 of H.R. 1 which requires online platforms to retain records…”

“I disagree with this amendment. It would strike section 4208 of H.R. 1 which requires online platforms to retain records of certain online political advertisements. According to Forbes magazine, political advertisers spent $1.6 billion online in the 2020 election--almost 10 times what they spent in 2012. At a time when Americans are increasingly bombarded with political ads online, striking this provision is not useful and would harm the efforts of this bill to provide increased transparency in political advertising. Fundamentally, Americans deserve to know who is paying for online political ads to ensure that they are informed voters. Digital advertising can also have a far greater reach than broadcast advertising. Online political ads are relatively inexpensive to produce and can be disseminated instantly to vast audiences across great distances without regard to geographic boundaries. It is time for our disclosure and disclaimer laws and regulations to be updated to reflect how campaigns are run in the 21st century and how to keep pace with changing technology. The online platform records requirements in this section are key to the Honest Ads Act, which is a part of H.R. 1, designed to improve transparency in political advertising. By requiring online platforms to retain copies of political ads, everyday Americans at home will be able to see who is paying for what.…”