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.

Full bill text →

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SubjectsBank accounts, deposits, capitalCongressional oversightCorporate finance and managementEconomic performance and conditionsEmployee benefits and pensionsFinancial services and investmentsLicensing and registrationsPerformance measurementPolitical movements and philosophiesSecurities

XML scalars

congress: 119
type: HR
number: 8286
originChamber: House
originChamberCode: H
introducedDate: 2026-04-15
updateDate: 2026-09-19T23:18:49Z
updateDateIncludingText: 2026-09-19T23:18:49Z
title: Protecting Americans’ Retirement Savings From Politics Act
legislationUrl: https://www.congress.gov/bill/119th-congress/house-bill/8286

Constitutional authority statement (CDATA)

[Congressional Record Volume 172, Number 66 (Wednesday, April 15, 2026)][House]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. STEIL:H.R. 8286.Congress has the power to enact this legislation pursuantto the following:Article I, Section 8 of the US Constitution: To regulatecommerce with foreign nations, and among the several states,and with the Indian tribes[Page H2925]

Pipeline

Track

federal_presidential

Stage

Introduced

Stage rank

Sponsor

Rep. Steil, Bryan [R-WI-1] · [R-WI-1] · S001213
Rep-WI-1 current · 4 terms · @RepBryanSteil · 6 district offices

Sponsor record (congress_legislators)

Bio (legislators)

bioguide

S001213

status

current

official_full

Bryan Steil

first

Bryan

middle

null

last

Steil

suffix

null

nickname

null

birthday

1981-03-30

gender

Current term (4 total)

type

rep

state

district

class

null

party

Republican

caucus

null

start

2025-01-03

end

2027-01-03

end_type

null

how

null

url

https://steil.house.gov

address

1526 Longworth House Office Building Washington DC 20515-4901

office

1526 Longworth House Office Building

phone

202-225-3031

fax

null

contact_form

null

rss_url

null

Leadership roles (0)

none

Committee memberships (6)

Capital Markets (house) · house · rank 6
Digital Assets, Financial Technology, and Artificial Intelligence (house) · house · Chairman · rank 1
House Committee on Financial Services (house) · house · rank 12 · site
House Committee on House Administration (house) · house · Chair · rank 1 · site
Joint Committee of Congress on the Library (joint) · joint · Chair · rank 1 · site
Joint Committee on Printing (joint) · joint · Vice Chair · rank 1 · site

Social media

Twitter: @RepBryanSteil

District offices (6)

20 S Main St, Suite 10, Janesville, WI, 53545-3959 · 608-752-4050 · Tuesday 10:00AM-12:00PM and Thursday 2:00PM-4:00PM · 42.68247,-89.02214
730 Wisconsin Ave, Suite 101, Racine County Courthouse, Racine, WI, 53403-1238 · 262-637-0510 · Mondays 9:00AM-11:00AM · 42.72521,-87.78431
19600 75th Street, Room 177, Bristol, WI, 53104 · 262-654-1901 · Tuesday 10:00AM-12:00PM · 42.5698345,-88.0445211
101 N. Wisconsin Street, Matheson Memorial Library, Mary Bray Room, Elkhorn, WI, 53121 · 262-654-1901 · Thursday 9:00AM-11:00AM · 42.6738586,-88.54314939999999
3400 E Howard Avenue, St Francis Civic Center, St Francis, WI, 53235 · 414-285-2120 · Wednesday 2:00PM-4:00PM · 42.974132,-87.86497020000002
100 State St, Beloit City Hall Conference Room, Beloit, WI, 53511 · 608-752-4050 · Wednesday 9:00AM-11:00AM · 42.4975499,-89.036943

Other names (0)

none

Sponsor FEC record (fec_live)

Candidate record (candidates) · cycle 2026

candidate_id

H8WI01156

cycle

2026

name

STEIL, BRYAN GEORGE

party

REPUBLICAN PARTY

office

House

state

district

incumbent_challenge

Incumbent

candidate_status

active_through

2026

election_year

null

first_file_date

2018-04-25

last_file_date

2026-06-17

last_f2_date

2026-06-17

address

null

Candidate summary (candidate_summaries) · cycle 2026

cycle

2026

total_receipts

$5,467,777.07

total_disbursements

$1,359,848.79

cash_on_hand_end_period

$6,327,098.65

debts_owed_by_committee

$0.00

coverage_start_date

2025-01-01

coverage_end_date

2026-07-22

Connected committees (0)

none

Cosponsors (2)

Rep. Wagner, Ann [R-MO-2] · [R-MO-2] · W000812 · Co-sponsored 2026-04-15 · original
Rep-MO-2 current · 7 terms · @RepAnnWagner · 2 district offices
Rep. Meuser, Daniel [R-PA-9] · [R-PA-9] · M001204 · Co-sponsored 2026-04-16
Rep-PA-9 current · 4 terms · @RepMeuser · 7 district offices

Committees (1)

Financial Services Committee [House Standing]
2026-06-24T20:09:55ZReported By
2026-04-21T15:02:00ZMarkup By
2026-04-15T14:00:35ZReferred To

Actions — from XML (8)

2026-06-24CalendarsH12410via House floor actions
Placed on the Union Calendar, Calendar No. 618.
2026-06-24CommitteeH12200via House floor actions
Reported (Amended) by the Committee on Financial Services. H. Rept. 119-712.
2026-06-24Committee5000via Library of Congress
Reported (Amended) by the Committee on Financial Services. H. Rept. 119-712.
2026-04-21Committeevia House committee actions
Ordered to be Reported by the Yeas and Nays: 27 - 24.
2026-04-21Committeevia House committee actions
Committee Consideration and Mark-up Session Held
2026-04-15IntroReferralH11100via House floor actions
Referred to the House Committee on Financial Services.
2026-04-15IntroReferralIntro-Hvia Library of Congress
Introduced in House
2026-04-15IntroReferral1000via Library of Congress
Introduced in House

Actions — from bill_actions table (0)

none

Titles

Display Title2026-09-19T23:18:49Z
Protecting Americans’ Retirement Savings From Politics Act
Official Title as IntroducedIH2026-09-19T23:11:50Z
To amend the Federal securities laws with respect to the materiality of disclosure requirements, to establish the Public Company Advisory Committee, and for other purposes.
Short Title(s) as Reported to HouseRHH2026-06-25T04:23:28Z
Protecting Americans’ Retirement Savings From Politics Act
Short Title(s) as IntroducedIH2026-04-16T08:23:30Z
Protecting Americans’ Retirement Savings From Politics Act

Text versions (from XML)

Reported in House2026-06-24T04:00:00Z
https://www.govinfo.gov/content/pkg/BILLS-119hr8286rh/xml/BILLS-119hr8286rh.xml
Introduced in House2026-04-15T04:00:00Z
https://www.govinfo.gov/content/pkg/BILLS-119hr8286ih/xml/BILLS-119hr8286ih.xml

Versions — from bill_versions table (0)

none

Policy area

Finance and Financial Sector

Summaries

07 · 2026-06-24 · Reported to House

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.

Related bills

HR 8383 (119) Protecting Americans’ Savings Act
Latest: 2026-04-20 — Referred to the House Committee on Financial Services.
Relationship: Related bill (via CRS)
HR 8265 (119) Empowering Shareholders Act of 2026
Latest: 2026-04-14 — Referred to the House Committee on Financial Services.
Relationship: Related bill (via CRS)
HR 6967 (119) Public Company Advisory Committee Act of 2026
Latest: 2026-03-19 — Placed on the Union Calendar, Calendar No. 479.
Relationship: Related bill (via CRS)
HR 3402 (119) To amend the Securities Exchange Act of 1934 to require certain disclosures by institutional investment managers in connection with proxy advisory firms, and for other purposes.
Latest: 2025-05-14 — Referred to the House Committee on Financial Services.
Relationship: Related bill (via CRS)

Amendments (0)

none

Laws

none

Committee reports

H. Rept. 119-712

Calendar number

null

CBO cost estimates

none

Latest action

Date

2026-06-24

Text

Placed on the Union Calendar, Calendar No. 618.

Time

null

Dublin Core

format

text/xml

language

rights

Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.

contributor

Congressional Research Service, Library of Congress

description

This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.

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119

bill_type

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8286

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hr-8286-119

title

Protecting Americans’ Retirement Savings From Politics Act

short_title

Protecting Americans’ Retirement Savings From Politics Act

sponsor_bioguide_id

S001213

sponsor_name

Rep. Steil, Bryan [R-WI-1]

sponsor_party

sponsor_state

introduced_date

2026-04-15

latest_action_date

2026-06-24

latest_action_text

Placed on the Union Calendar, Calendar No. 618.

status

null

policy_area

Finance and Financial Sector

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  "Economic performance and conditions",
  "Employee benefits and pensions",
  "Financial services and investments",
  "Licensing and registrations",
  "Performance measurement",
  "Political movements and philosophies",
  "Securities"
]

govinfo_billstatus_path

BILLSTATUS-119hr8286

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