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H.R.1087 / 117th Congress

Shareholder Political Transparency Act of 2021

Placed on the Union Calendar, Calendar No. 36.

Official summary

Version 07 · Reported to House · Jun 8, 2021

Shareholder Political Transparency Act of 2021

This bill requires an issuer of securities to disclose information related to expenditures for political activities. Specifically, issuers must disclose quarterly any such expenditure, including by identifying any candidate the expenditure was made in relation to and any trade association or other tax-exempt organization that received dues or other payments that may be used for political activities. Annually, issuers must report on expenditures for political activities made in the previous year over $10,000 and information related to anticipated expenditures for the next year.

The Government Accountability Office must report on the effectiveness of the Securities and Exchange Commission's oversight of these reporting and disclosure requirements.

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Who introduced it

Rep. Foster, Bill [D-IL-11] · D–IL

Committees

  • Financial Services Committee
11 cosponsorship records, including any withdrawals

Actions

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  1. Placed on the Union Calendar, Calendar No. 36.

  2. Reported (Amended) by the Committee on Financial Services. H. Rept. 117-53.

  3. Reported (Amended) by the Committee on Financial Services. H. Rept. 117-53.

  4. Ordered to be Reported (Amended) by the Yeas and Nays: 28 - 23.

  5. Committee Consideration and Mark-up Session Held.

  6. Committee Consideration and Mark-up Session Held.

  7. Referred to the House Committee on Financial Services.

  8. Introduced in House

  9. Introduced in House

Bill text & related measures

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Related bills identified by Congress.gov

Source last updated: May 15, 2025. Consult Congress.gov for the current record.

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Neutral evidence review

Objective

Analyze H.R.1087 as objectively as possible. Explain its main provisions, who would be affected, possible benefits and harms, implementation, exceptions, and uncertainties. Present the strongest arguments for and against it, and identify evidence needed to assess its public impact.

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Fairness and public impact

Progressive lens

Examine H.R.1087 through a progressive lens, focusing on fairness, access, economic inequality, and effects on vulnerable communities. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and distinguish stated goals from demonstrated outcomes.

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Institutions and government scope

Conservative lens

Examine H.R.1087 through a conservative lens, focusing on fiscal responsibility, institutional stability, federalism, and the scope of government. Explain potential benefits, costs, and unintended consequences. Consider the strongest counterarguments and any provisions that challenge this perspective.

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Individual rights and government power

Liberty lens

Examine H.R.1087 through a civil-liberties and limited-government lens. Consider individual rights, privacy, voluntary choice, accountability, and government power. Explain tradeoffs, possible safeguards, and the strongest counterarguments without assuming the proposal is beneficial or harmful.

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