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H.R. 8286: Protecting Americans’ Retirement Savings From Politics Act

119th Congress · introduced 2026-04-15 · Finance and Financial Sector · Latest: Placed on the Union Calendar, Calendar No. 618.

federal

What does this mean?

Official title

Protecting Americans’ Retirement Savings From Politics Act

Plain summary

Protecting Americans’ Retirement Savings From Politics Act This bill limits certain disclosures currently required of public companies and revises the proxy voting process. Under the bill, public companies are only required to disclose information in response to a Securities and Exchange Commission (SEC) rulemaking if the company determines that the information is material with respect to a voting or investment decision regarding company securities. The bill also restricts the proxy voting process and proxy advisory firms. (Public companies regularly hold votes where eligible shareholders may fill out proxy cards with voting directions and submit them to a designated representative. Proxy advisory firms provide voting services and advice to institutional investors.) Specifically, robovoting (i.e., automated proxy voting) is prohibited for votes related to proxy or consent solicitation materials. Proxy advisory firms must register with the SEC and provide annual reports on their activity. The bill also establishes a private right of action against proxy advisory firms in certain circumstances and makes such firms liable for failing to disclose material information or for making material misstatements. In addition, passively managed funds (e.g., index funds) that vote shares on behalf of fund investors in non-routine votes must (1) vote shares according to the instructions of the beneficial owner of the securities, (2) vote shares according to the voting recommendations of the board, (3) abstain from voting, or (4) mirror the vote share elections of other shareholders.

Congressional Research Service summary (Reported to House), quoted unchanged (nonpartisan). Read the source.

What a vote does

A “Yea” vote

If it passes both chambers and is signed, it becomes law.

A “Nay” vote

If it is not passed, current law stays as it is.

PSI Sci description of the legislative step (not an opinion).

What does this mean? (plain words)

Official text

Protecting Americans’ Retirement Savings From Politics Act

Source: Congressional Research Service summary (Reported to House)

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Officials and money

Sponsor: Rep. Steil, Bryan [R-WI-1] · 2 cosponsors

Money: No cost estimate published yet. No linked contracts or vendors yet.

Words on this page, explained (2)
Bill
A proposed law. It becomes law only if it passes the legislature and is signed by the president or governor (or a veto is overridden).
Securities
Financial investments that can be bought and sold, such as stocks and bonds.

Plain meanings written from linked sources. All words.

Sources

Record fed-us-cong119-hr8286 · catalog fed-us-congress-bills-cong119 · updated 2026-11-03 by psicol fed-bills