Politiparty
Politiparty
LeaderboardCongressBills

118th Congress Finance and Financial Sector

H.R. 2792: Small Entity Update Act

Passed HouseMay 30, 2023

  1. Introduced (completed)Apr 20, 2023
  2. Passed House (completed)May 30, 2023, 367–8
  3. Passed Senate (not reached)
  4. To the President (not reached)
  5. Became law (not reached)

Summary

Passed House, May 30, 2023

This bill requires the Securities and Exchange Commission (SEC) to report on and revise the definition of small entity. Agencies are required to consider the impact of their rules on small entities under the Regulatory Flexibility Act.

Under the bill, the SEC must provide specific and detailed recommendations to Congress on how the SEC can revise the definition of small entity to (1) align with specified statutory goals, including reducing unnecessary burdens on small entities; and (2) expand the number of entities covered. In addition, the SEC must adjust the appropriate dollar amounts for inflation every five years.

The SEC must also revise the applicable rules to implement these recommendations.

Written by the Congressional Research Service, Library of Congress.

Key votes

House final vote, May 30, 2023

On Motion to Suspend the Rules and Pass, as Amended

Passed 367–8

Yea 367two-thirds 250Nay 8

  • Democrats178 yea, 0 nay
  • Republicans188 yea, 8 nay
  • Independents1 yea, 0 nay

Broke with their party: Chip Roy (R-TX), Paul Gosar (R-AZ), W. Steube (R-FL), Matthew Rosendale (R-MT), Eli Crane (R-AZ), Andy Biggs (R-AZ), Josh Brecheen (R-OK) and Ben Cline (R-VA) voted Nay

See how all 375 members voted

Showing 435 of 435 members

Yea 367

Republicans (188)

Democrats (178)

Independents (1)

Nay 8

Republicans (8) broke with their party

Not voting 60

Senate

Not yet voted

Passed the House May 30, 2023. Awaiting Senate action.

Roll calls

1 vote on this bill

Showing 1 of 1 roll calls

  • May 30, 2023HouseOn Motion to Suspend the Rules and Pass, as AmendedFinal passagePassed, yea-nay 367–8
    Roll call 238 tally by party
    PartyYeaNayPresentNot voting
    Democrats1780035
    Republicans1888025
    Independents1000
    Total3678060

    House roll call 238: On Motion to Suspend the Rules and Pass, as Amended. Passed.

    8 crossed party lines: 8 Republicans

    How each member voted (435)

Amendments

0 offered

No amendments were offered to this bill.

Cosponsors

5

Bipartisan support.

Who scored on this bill

124 points earned
  1. 1Ann Wagner R-MO SponsorIntroduced, drew cross-party cosponsors, reported, passed House4 events+56
  2. 2Andy Biggs R-AZ1 maverick vote1 event+6
  3. 2Josh Brecheen R-OK1 maverick vote1 event+6
  4. 2Ben Cline R-VA1 maverick vote1 event+6
  5. 2Eli Crane R-AZ1 maverick vote1 event+6
See all scorers and every scoring event

Introductions and cosponsorships count toward weekly caps and show no points.

Other bills by Ann Wagner

History

  1. May 30, 2023Passed the House, 367–8.
  2. Apr 20, 2023Introduced in the House by Ann Wagner.
Show the full action history (15 actions)
  1. May 31, 2023Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
  2. May 30, 2023Reported (Amended) by the Committee on Financial Services. H. Rept. 118-80.
  3. May 30, 2023Placed on the Union Calendar, Calendar No. 59.
  4. May 30, 2023Mrs. Wagner moved to suspend the rules and pass the bill, as amended.
  5. May 30, 2023Considered under suspension of the rules. (consideration: CR H2652-2653)
  6. May 30, 2023DEBATE - The House proceeded with forty minutes of debate on H.R. 2792.
  7. May 30, 2023At the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 8, rule XX, the Chair announced that further proceedings on the motion would be postponed.
  8. May 30, 2023Considered as unfinished business. (consideration: CR H2661-2662)
  9. May 30, 2023Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 367 - 8 (Roll no. 238). (text: CR H2652)
  10. May 30, 2023On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 367 - 8 (Roll no. 238). (text: CR H2652)
  11. May 30, 2023Motion to reconsider laid on the table Agreed to without objection.
  12. Apr 26, 2023Committee Consideration and Mark-up Session Held.
  13. Apr 26, 2023Ordered to be Reported in the Nature of a Substitute (Amended) by the Yeas and Nays: 42 - 0.
  14. Apr 20, 2023Introduced in House
  15. Apr 20, 2023Referred to the House Committee on Financial Services.