Bill limits what firms must tell stock buyers.
H.R. 8286 — Protecting Americans’ Retirement Savings From Politics Act · Filed by Bryan Steil (R-WI) · 2 cosponsors · Introduced Apr 15, 2026 · Reported out
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What it does
The bill tells the SEC to narrow what facts firms must share with stock buyers. It sets up a group mostly made of firm leaders. This group advises the SEC on new rules. It registers and controls proxy firms. Proxy firms tell stock buyers how to vote on issues. The bill requires big money managers to do economic studies before voting. It also orders studies on European reporting rules and proxy firms.
Who it affects
Stock buyers get less information about firms. Proxy firms face new rules and legal risk. Big money managers must do more work before voting on issues.
One thing to notice
The bill limits what firms must share only for new rules. Old rules stay in place.
From the analysis of the bill text, linked under Primary records below.
Where it stands
2 cosponsors: 2 Republicans.
- Apr 15, 2026 — Introduced · Congress.gov: “Introduced in House”
- Apr 15, 2026 — Referred to House Committee on Financial Services · Congress.gov: “Referred to the House Committee on Financial Services”
- Apr 21, 2026 — Markup held in committee · Congress.gov: “Committee Consideration and Mark-up Session Held”
- Apr 21, 2026 — Reported out of committee · Congress.gov: “Ordered to be Reported by the Yeas and Nays: 27 - 24”
Dates and quoted wording are Congress.gov's action record; the timeline shows status changes, not every procedural step.
Money around this bill
4 groups reported lobbying about this bill. They filed 4 reports from Jun 2026 to Jun 2026.
Those reports show $17,830,000 in lobbying spending. Each report lists about 60 bills. So that money was not all for this bill.
More groups named this bill than 72% of bills with any report.
Bryan Steil, who sponsored the bill, received $1,696,700 from PACs for the 2026 election.
- Chamber of Commerce of the U.S.A. — $16,950,000 in 1 report
- AFL-CIO — $760,000 in 1 report
- American Securities Association — $90,000 in 1 report
- Ascensus, Inc. — $30,000 in 1 report
Lobbying is legal. These reports show who lobbied about this bill, not what changed.
Words to know
- proxy firms — Firms that tell stock buyers how to vote on issues.
- big money managers — Large groups that invest money like pension funds and insurance firms.
- SEC — The government group that makes rules for stock markets and buyers.
- 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.
How this was measured
Analysis — Quorum's AI read the bill text published by Congress.gov (50,012 characters) on Jun 8, 2026. Section numbers in the findings refer to that text, linked below; transparency and hidden-provision scores are compared against the median of 14,985 analysed bills.
Status and sponsors — Congress.gov's bill record — actions, committee referrals and cosponsors — loaded nightly. The timeline shows status changes, not every procedural action.
Money — Senate Lobbying Disclosure Act filings whose specific-issue field names this bill for quarters ending Jun 2026 to Jun 2026. A filing's amount is reported whole beside the median number of bills a filing names; it is never divided across them. PAC receipts are FEC-reported contributions to the sponsor's candidate committee in the 2026 cycle.
As of — lobbying records through Jul 20, 2026 · page rendered 2026-09-25.
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