H.R.2797 — Equal Opportunity for All Investors Act of 2023
House Roll Call
H.R.2797
| Bill | H.R.2797 — Equal Opportunity for All Investors Act of 2023 |
|---|---|
| Vote question | On Motion to Suspend the Rules and Pass, as Amended |
| Vote type | 2/3 Yea-And-Nay |
| Result | Passed |
| Totals | Yea 383 / Nay 18 / Present 0 / Not Voting 34 |
| Party | Yea | Nay | Present | Not Voting |
|---|---|---|---|---|
| R | 206 | 0 | 0 | 16 |
| D | 177 | 18 | 0 | 18 |
| I | 0 | 0 | 0 | 0 |
Research Brief
On Motion to Suspend the Rules and Pass, as Amended
Bill Analysis
The Equal Opportunity for All Investors Act of 2023 (HR 2797) aims to enhance access to investment opportunities for all individuals, particularly those from historically underserved communities. The bill seeks to address disparities in investment access by implementing measures that promote equity in financial markets.
Key provisions of the bill include the establishment of a new program within the Securities and Exchange Commission (SEC) to facilitate outreach and education initiatives targeting underrepresented investors. This program will focus on providing resources and information about investment opportunities, financial literacy, and the importance of diversifying investment portfolios.
The bill authorizes funding to support these initiatives, emphasizing collaboration with community organizations, educational institutions, and financial service providers to expand outreach efforts. The SEC is tasked with developing guidelines to ensure that these programs effectively reach marginalized groups, including low-income individuals, women, and racial and ethnic minorities.
Additionally, HR 2797 mandates the SEC to report annually on the progress of these initiatives, including metrics on participation rates and the impact on investment behaviors among targeted demographics. This reporting requirement aims to ensure transparency and accountability in the implementation of the outreach programs.
The beneficiaries of this legislation include individual investors from underserved communities who may have previously faced barriers to entry in the investment landscape. By promoting financial literacy and access, the bill seeks to empower these individuals to participate more fully in the economy.
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. Key timelines for implementation will depend on the legislative process and subsequent appropriations for the proposed programs.
Yea (383)
C
Colin Allred
K
Kelly Armstrong
D
Dan Bishop
E
Earl Blumenauer
L
Larry Bucshon
M
Michael Burgess
Y
Yadira Caraveo
T
Tony Cárdenas
J
Jerry Carl
A
André Carson
M
Matt Cartwright
G
Gerald Connolly
J
John Duarte
J
Jeff Duncan
A
Anna Eshoo
A
A. Ferguson
B
Brad Finstad
M
Mike Gallagher
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
Barbara Lee
D
Debbie Lesko
B
Blaine Luetkemeyer
K
Kathy Manning
K
Kevin McCarthy
P
Patrick McHenry
M
Marcus Molinaro
G
Grace Napolitano
W
Wiley Nickel
D
Donald Payne
M
Mary Peltola
G
Greg Pence
D
Dean Phillips
C
Cathy Rodgers
M
Matthew Rosendale
J
John Sarbanes
A
Abigail Spanberger
M
Michelle Steel
C
Chris Stewart
E
Emilia Sykes
D
David Trone
M
Michael Waltz
B
Brad Wenstrup
J
Jennifer Wexton
S
Susan Wild
B
Brandon Williams
Nay (18)
Not Voting (34)
K
Ken Buck
L
Lori Chavez-DeRemer
D
David Cicilline
A
Alexander Mooney
B
Bill Pascrell
C
C. Ruppersberger
G
George Santos
