Bill lets more people invest in private firms and raise money.

What it does

The bill makes it easier for regular people to invest in private firms. It raises the money limit for crowdfunding from $100,000 to $250,000. People can now become accredited by passing a test. They no longer need high income or net worth. Angel investor groups can hold events to find deals. The bill sets up a Senior Investor Taskforce. It requires firms to send rule papers by email.

Who it affects

Regular people and small firms gain new ways to invest and raise money. Private investment firms can reach more people. People who pass a test can invest in private funds even if not wealthy.

One thing to notice

The bill opens private investments to more people. It does not add new rules to protect them from fraud or loss.

From the analysis of the bill text, linked under Primary records below.

Where it stands

4 cosponsors: 3 Democrats, 1 Republicans.

• May 14, 2025 — Introduced · Congress.gov: “Introduced in House”
• May 14, 2025 — Referred to House Committee on Financial Services and Senate Committee on Banking, Housing, and Urban Affairs · Congress.gov: “Referred to the House Committee on Financial Services”
• May 20, 2025 — Markup held in committee · Congress.gov: “Committee Consideration and Mark-up Session Held”
• May 20, 2025 — Reported out of committee · Congress.gov: “Ordered to be Reported (Amended) by the Yeas and Nays: 41 - 10”
• Dec 11, 2025 — Passed the House · Congress.gov: “On passage Passed by recorded vote: 302 - 123 (Roll no. 328)”

Dates and quoted wording are Congress.gov's action record; the timeline shows status changes, not every procedural step.

Money around this bill

61 groups reported lobbying about this bill. They filed 106 reports from Jun 2025 to Jun 2026.

Those reports show $80,952,337 in lobbying spending. Each report lists about 8 bills. So that money was not all for this bill.

More groups named this bill than 99% of bills with any report.

Ann Wagner, who sponsored the bill, received $1,273,250 from PACs for the 2026 election.

• Chamber of Commerce of the U.S.A. — $54,660,000 in 3 reports
• Securities Industry and Financial Markets Association — $5,090,000 in 2 reports
• American Council of Life Insurers — $4,085,837 in 3 reports
• Investment Company Institute — $2,106,510 in 2 reports
• Edward D. Jones & Co., L.p. — $1,480,000 in 1 report

Lobbying is legal. These reports show who lobbied about this bill, not what changed.

Words to know

• accredited — Allowed by law to invest in private firms and funds.
• crowdfunding — Raising money from many people, usually online.
• private funds — Investment pools not traded on public stock markets.
• lobbying — Trying to influence lawmakers about a bill. Companies and groups pay people to do this.
• PACs — Groups that collect money and give it to candidates for office.
• sponsored — To sponsor a bill is to introduce it in Congress and put your name on it.