H.R.2812 — Middle Market IPO Cost Act
House Roll Call
H.R.2812
| Bill | H.R.2812 — Middle Market IPO Cost Act |
|---|---|
| Vote question | On Motion to Suspend the Rules and Pass, as Amended |
| Vote type | 2/3 Yea-And-Nay |
| Result | Passed |
| Totals | Yea 390 / Nay 10 / Present 0 / Not Voting 33 |
| Party | Yea | Nay | Present | Not Voting |
|---|---|---|---|---|
| R | 193 | 10 | 0 | 18 |
| D | 197 | 0 | 0 | 15 |
| I | 0 | 0 | 0 | 0 |
Research Brief
On Motion to Suspend the Rules and Pass, as Amended
Bill Analysis
Bill Summary: HR 2812 - Middle Market IPO Cost Act
The Middle Market IPO Cost Act (HR 2812) aims to reduce the financial burdens associated with initial public offerings (IPOs) for middle-market companies, defined as those with annual revenues between $10 million and $1 billion. The bill seeks to enhance access to capital markets for these businesses, which often face disproportionately high costs relative to their size when going public.
Key Provisions:
Cost Reduction Measures: The bill proposes to amend the Securities Act of 1933 to allow middle-market companies to benefit from reduced regulatory requirements during the IPO process. This includes streamlined disclosure obligations and reduced auditing standards, which are designed to lower the overall cost of going public.
Funding and Authorities: While the bill does not allocate specific funding, it empowers the Securities and Exchange Commission (SEC) to implement the proposed changes, thereby facilitating a more favorable environment for middle-market IPOs.
Agencies Affected: The primary agency impacted by this legislation is the SEC, which will be responsible for overseeing the implementation of the new regulations and ensuring compliance among middle-market companies.
Beneficiaries and Regulation: The primary beneficiaries of the Middle Market IPO Cost Act are middle-market companies seeking to access public capital markets. By reducing the financial and regulatory burdens, the bill aims to encourage more of these firms to consider IPOs as a viable option for growth and expansion. Additionally, investors may benefit from increased opportunities to invest in a broader range of companies.
Key Timelines: The bill was introduced in the House of Representatives and has since been received in the Senate, where it has been read twice and referred to the Committee on Banking, Housing, and Urban Affairs for further consideration. The timeline for further action will depend on the committee’s review and subsequent legislative processes.
In summary, HR 2812 seeks to facilitate the IPO process for middle-market companies, potentially leading to increased economic growth and investment opportunities.
Yea (390)
C
Colin Allred
K
Kelly Armstrong
E
Earl Blumenauer
J
Jamaal Bowman
L
Larry Bucshon
M
Michael Burgess
C
Cori Bush
K
Ken Calvert
Y
Yadira Caraveo
T
Tony Cárdenas
J
Jerry Carl
M
Matt Cartwright
L
Lori Chavez-DeRemer
G
Gerald Connolly
J
Jason Crow
A
Anthony D'Esposito
L
Lloyd Doggett
J
John Duarte
J
Jeff Duncan
A
Anna Eshoo
A
A. Ferguson
S
Scott Franklin
M
Matt Gaetz
M
Mike Gallagher
R
Ruben Gallego
M
Mike Garcia
B
Bob Good
K
Kay Granger
G
Garret Graves
M
Mark Green
B
Brian Higgins
J
Jeff Jackson
S
Sheila Jackson Lee
B
Bill Johnson
D
Daniel Kildee
D
Derek Kilmer
A
Ann Kuster
D
Doug Lamborn
J
Jake LaTurner
B
Blaine Luetkemeyer
K
Kathy Manning
L
Lucy McBath
L
Lisa McClain
P
Patrick McHenry
M
Marcus Molinaro
G
Grace Napolitano
W
Wiley Nickel
B
Bill Pascrell
D
Donald Payne
M
Mary Peltola
D
Dean Phillips
K
Katie Porter
C
Cathy Rodgers
M
Matthew Rosendale
C
C. Ruppersberger
J
John Rutherford
G
George Santos
J
John Sarbanes
D
David Schweikert
P
Pete Sessions
A
Abigail Spanberger
M
Michelle Steel
C
Chris Stewart
E
Eric Swalwell
R
Rashida Tlaib
D
David Trone
N
Nydia Velázquez
M
Michael Waltz
D
Debbie Wasserman Schultz
B
Brad Wenstrup
J
Jennifer Wexton
S
Susan Wild
B
Brandon Williams
Nay (10)
Not Voting (33)
D
Dan Bishop
J
John Garamendi
R
Raúl Grijalva
B
Barbara Lee
D
Debbie Lesko
A
Alexander Mooney
G
Greg Pence
B
Bill Posey
