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HOUSE 4790118th CongressReceived in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Prioritizing Economic Growth Over Woke Policies Act

Last Action
9/23/2024

Actions

  • 2024-09-23Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
  • 2024-09-19Motion to reconsider laid on the table Agreed to without objection.
  • 2024-09-19On passage Passed by the Yeas and Nays: 215 - 203, 1 Present (Roll no. 435). (text of amendment in the nature of a substitute: CR H5477-5486)
  • 2024-09-19Passed/agreed to in House: On passage Passed by the Yeas and Nays: 215 - 203, 1 Present (Roll no. 435). (text of amendment in the nature of a substitute: CR H5477-5486)
  • 2024-09-19On motion to recommit Failed by the Yeas and Nays: 206 - 211 (Roll no. 434).
  • 2024-09-19Considered as unfinished business. (consideration: CR H5496-5498)
  • 2024-09-19POSTPONED PROCEEDINGS - At the conclusion of debate on H.R. 4790, the Chair put the question on the motion to recommit and by voice vote, announced that the ayes had prevailed. Mr. Huizenga demanded the yeas and nays and the Chair postponed further proceedings until a time to be announced.
  • 2024-09-19The previous question on the motion to recommit was ordered pursuant to clause 2(b) of rule XIX.
  • 2024-09-19Mr. Casten moved to recommit to the Committee on Financial Services. (text: CR H5494)
  • 2024-09-19The previous question was ordered pursuant to the rule.
  • 2024-09-19DEBATE - The House proceeded with one hour of debate on H.R. 4790.
  • 2024-09-19Rule provides for consideration of H.R. 3724, H.R. 4790, H.R. 5179, H.R. 5339, H.R. 5717, H.R. 7909 and H.J. Res. 136. The resolution provides for consideration of H.R. 3724 and H.R. 5717 under a structured rule and H.R. 4790, H.R. 5179, H.R. 5339, H.R. 7909, and H.J. Res. 136 under a closed rule. The resolution provides for one hour of general debate and one motion to recommit on each measure.
  • 2024-09-19Considered under the provisions of rule H. Res. 1455. (consideration: CR H5477-5494)
  • 2024-09-17Rules Committee Resolution H. Res. 1455 Reported to House. Rule provides for consideration of H.R. 3724, H.R. 4790, H.R. 5179, H.R. 5339, H.R. 5717, H.R. 7909 and H.J. Res. 136. The resolution provides for consideration of H.R. 3724 and H.R. 5717 under a structured rule and H.R. 4790, H.R. 5179, H.R. 5339, H.R. 7909, and H.J. Res. 136 under a closed rule. The resolution provides for one hour of general debate and one motion to recommit on each measure.
  • 2023-12-22Placed on the Union Calendar, Calendar No. 275.

Showing 15 of 20 actions. Full history on Congress.gov.

CRS Summary

As of 2023-12-22 (07)

Guiding Uniform and Responsible Disclosure Requirements and Information Limits Act of 2023 or the GUARDRAIL Act of 2023

This bill limits the disclosures required by issuers of securities as a result of a rulemaking and establishes the Public Company Advisory Committee.

First, the bill requires the Securities and Exchange Commission (SEC) to limit issuer disclosure requirements made in a rulemaking. Specifically, the SEC must provide that an issuer of securities is only required to disclose information in response to a rulemaking if the issuer determines that this information is material with respect to a voting or investment decision regarding the issuer’s securities.

The bill also requires the SEC to report on its website each required disclosure of nonmaterial information under current federal securities laws and regulations and a justification for the disclosure. The SEC must report this information to Congress every five years. The bill also establishes that a person's failure to disclose such nonmaterial information is not a liability in a private action.

Further, the bill establishes the Public Company Advisory Committee within the SEC. The committee must advise the SEC on regulatory priorities, public reporting and corporate governance of public companies, shareholder meetings and the proxy process, and other topics. The committee must be comprised of individuals who are officials of public companies, have senior managerial responsibility in associations that represent the interests of public companies, or provide professional advice and services to public companies.  

Finally, the bill requires the SEC to report on the effects of the European Union's directives on corporate sustainability, particularly on U.S. companies, consumers, and investors.  

Cosponsors (3)

  • Daniel Meuser (R-PA)
  • FRANK LUCAS (R-OK)
  • Alexander Mooney (R-WV)

Subjects

  • Administrative law and regulatory procedures
  • Advisory bodies
  • Business records
  • Congressional oversight
  • Consumer affairs
  • Corporate finance and management
  • European Union
  • Financial services and investments
  • Foreign and international corporations
  • Government studies and investigations
  • Internet, web applications, social media
  • Securities
  • Securities and Exchange Commission (SEC)
Read on Congress.gov

Sourced from Congress.gov (public domain).

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