Protecting Americans’ Savings Act

Zachary Nunn

Republican · IA · Representative

Source: Congress.gov · FEC

No cosponsors on record. Bills can pass without cosponsors — this often means the sponsor introduced the bill alone, either because it's a messaging bill, a chairman's mark, or simply early in the legislative cycle.

Referred to the House Committee on Financial Services.

2026-04-20

Source: Congress.gov

This bill would change the rules for how shareholders vote on company decisions through proxy voting, which is when investors authorize someone else to vote their shares at corporate meetings. The specific changes would likely affect how companies handle shareholder votes and what information they must provide to investors, though the exact requirements would depend on the bill's detailed provisions. This would impact publicly traded companies and their shareholders who participate in corporate governance.

AI-assisted summary generated from the official bill metadata (title, subjects, actions) sourced from Congress.gov. Cached and reviewed. Always verify against the official text linked below.

[Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [H.R. 8383 Introduced in House (IH)] <DOC> 119th CONGRESS 2d Session H. R. 8383 To amend the Securities Exchange Act of 1934 to establish certain requirements related to proxy voting, and for other purposes. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES April 20, 2026 Mr. Nunn of Iowa introduced the following bill; which was referred to the Committee on Financial Services _______________________________________________________________________ A BILL To amend the Securities Exchange Act of 1934 to establish certain requirements related to proxy voting, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Protecting Americans' Savings Act''. SEC. 2. REQUIREMENTS RELATED TO PROXY VOTING. Section 14 of the Securities Exchange Act of 1934 (15 U.S.C. 78n) is amended by adding at the end the following: ``(l) Prohibition on Robovoting.-- ``(1) In general.--The Commission shall issue final rules prohibiting the use of robovoting with respect to votes related to proxy or consent solicitation materials. ``(2) Robovoting defined.--In this subsection, the term `robovoting' means the practice of automatically voting in a manner consistent with the recommendations of a proxy advisory firm or on a proxy advisory firm's electronic voting platform with the proxy advisory firm's recommendations, in either case, without independent review and analysis. ``(m) Prohibition on Outsourcing Voting Decisions by Institutional Investors.--With respect to votes related to proxy or consent solicitation materials, an institutional investor may not outsource voting decisions to any person other than an investment adviser or a broker or dealer that is registered with the Commission, or is exempt from such registration, and has a fiduciary or best interest duty to the institutional investor. ``(n) No Requirement To Vote.--No person may be required to cast votes related to proxy or consent solicitation materials, unless obligated by their fiduciary duty or Rule 206(4)-6 (17 CFR 275.206(4)- 6).''. <all>

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