Govwatch

[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[S. Res. 929 Introduced in Senate (IS)]

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119th CONGRESS
  2d Session
S. RES. 929

Expressing the sense of the Senate regarding equity stakes held by the 
                Federal Government in private companies.

_______________________________________________________________________

                   IN THE SENATE OF THE UNITED STATES

                           September 30, 2026

Ms. Rosen submitted the following resolution; which was referred to the 
        Committee on Homeland Security and Governmental Affairs

_______________________________________________________________________

                               RESOLUTION

 
Expressing the sense of the Senate regarding equity stakes held by the 
                Federal Government in private companies.

Whereas, since January 2025, Federal agencies have announced the acquisition of 
        equity or equity-like interests in private companies through more than 
        35 transactions, representing more than $27,000,000,000 in taxpayer 
        funds;
Whereas, in August 2025, 1789 Capital, a venture capital firm in which the son 
        of President Trump is a partner, invested in Vulcan Elements, a rare 
        earth magnet manufacturer, and, months later, the Department of Defense 
        announced a conditional commitment to lend $620,000,000 to the company 
        and the Federal Government agreed to take a $50,000,000 equity stake in 
        the company;
Whereas, in January 2026, the Department of Commerce announced a tentative 
        agreement to provide up to $1,600,000,000 in funding and loans to USA 
        Rare Earth and to acquire approximately a 10 percent stake in the 
        company, and, on the same day, USA Rare Earth announced a $1,500,000,000 
        private offering of the stock of the company, for which the lead 
        placement agent was Cantor Fitzgerald, a firm formerly led by the 
        Secretary of Commerce and now led by the sons of the Secretary of 
        Commerce; and
Whereas equity interests acquired with taxpayer funds belong to the people of 
        the United States and must never be used to enrich Federal officials, 
        Members of Congress, or the families of Federal officials or Members of 
        Congress: Now, therefore, be it
    Resolved, That it is the sense of the Senate that the President, 
the Vice President, members of the Cabinet, Members of Congress, 
officials who participate in Federal equity transactions, and the 
spouses, children, sons-in-law, and daughters-in-law of any such 
individuals should be prohibited from--
            (1) profiting from any Federal acquisition of an equity 
        interest in a private company, including through ownership of 
        the company or through any fee, commission, or other 
        compensation connected to any such transaction; and
            (2) purchasing or receiving any equity interest the Federal 
        Government sells or transfers, or receiving compensation 
        connected to any such sale or transfer.
                                 <all>
A resolution expressing the sense of the Senate regarding equity stakes held by the Federal Government in private companies.

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