Mandatory voting would have the same requirements. Anybody who previously could vote now must.
In terms of state power: it's not all that great of an expansion. If you make over the taxable limit, you pay federal taxes. If you own any sort of land, there's a good chance you pay local taxes on it. These sorts of compulsions apply to (equally?) large swathes of the population without necessitating a great deal of state power.
The closest thing to compare compelling people to vote would be the draft.
Like I said above, a mandatory vote does not require individuals to make a political statement any more than taxation does, unless it is coupled with a limited selection of candidates. We can talk about the propriety of a mandatory vote, but the legality of one in the United States seems fairly cut-and-dry.