HR 5339
118th Congress
House
Labor and Employment
Business ethics
Employee benefits and pensions
Financial services and investments
Protecting Americans’ Investments from Woke Policies Act
Introduced: September 5, 2023
Introduced by:
Allen, Rick W.
Republican
· Georgia
See on congress.gov
Everywhere this bill has been
22 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Sep 19, 2024
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Sep 18, 2024
Motion to reconsider laid on the table Agreed to without objection.
Sep 18, 2024
On passage Passed by the Yeas and Nays: 217 - 206 (Roll no. 427). (text of amendment in the nature of a substitute: CR H5343-5345)
Sep 18, 2024
Passed/agreed to in House: On passage Passed by the Yeas and Nays: 217 - 206 (Roll no. 427). (text of amendment in the nature of a substitute: CR H5343-5345)
Sep 18, 2024
On motion to recommit Failed by the Yeas and Nays: 206 - 213 (Roll no. 426).
Sep 18, 2024
Considered as unfinished business. (consideration: CR H5370-5372)
Sep 18, 2024
POSTPONED PROCEEDINGS - At the conclusion of debate on H.R. 5339, the Chair put the question on the motion to recommit and by voice vote announced that the noes had prevailed. Mr. Kildee demanded the yeas and nays and the Chair postponed further proceedings until a time to be announced.
Sep 18, 2024
The previous question on the motion to recommit was ordered pursuant to clause 2(b) of rule XIX.
Sep 18, 2024
Mr. Kildee moved to recommit to the Committee on Education and the Workforce. (text: CR H5349-5350)
Sep 18, 2024
The previous question was ordered pursuant to the rule.
Sep 18, 2024
DEBATE - The House resumed debate on H.R. 5339.
Sep 18, 2024
WORDS TAKEN DOWN - During the course of debate, exception was taken to certain words used and a demand was made to have the words taken down. Subsequently, the objection was withdrawn.
Sep 18, 2024
DEBATE - The House proceeded with one hour of debate on H.R. 5339.
Sep 18, 2024
Rule provides for consideration of H.R. 3724, H.R. 4790, H.R. 5179, H.R. 5339, H.R. 5717, H.R. 7909 and H.J. Res. 136. The resolution provides for consideration of H.R. 3724 and H.R. 5717 under a structured rule and H.R. 4790, H.R. 5179, H.R. 5339, H.R. 7909, and H.J. Res. 136 under a closed rule. The resolution provides for one hour of general debate and one motion to recommit on each measure.
Sep 18, 2024
Considered under the provisions of rule H. Res. 1455. (consideration: CR H5343-5350)
Sep 17, 2024
Rules Committee Resolution H. Res. 1455 Reported to House. Rule provides for consideration of H.R. 3724, H.R. 4790, H.R. 5179, H.R. 5339, H.R. 5717, H.R. 7909 and H.J. Res. 136. The resolution provides for consideration of H.R. 3724 and H.R. 5717 under a structured rule and H.R. 4790, H.R. 5179, H.R. 5339, H.R. 7909, and H.J. Res. 136 under a closed rule. The resolution provides for one hour of general debate and one motion to recommit on each measure.
Sep 26, 2023
Placed on the Union Calendar, Calendar No. 184.
Sep 26, 2023
Reported (Amended) by the Committee on Education and the Workforce. H. Rept. 118-225.
Sep 14, 2023
Ordered to be Reported (Amended) by the Yeas and Nays: 23 - 19.
Sep 14, 2023
Committee Consideration and Mark-up Session Held
Sep 5, 2023
Referred to the House Committee on Education and the Workforce.
Sep 5, 2023
Introduced in House
Votes taken on this bill
2
| Date | Chamber | What was voted on | Result | Yes–No | |
|---|---|---|---|---|---|
| Sep 18, 2024 | House · vote #427 | On Passage | Passed | 217–206 | See who voted → |
| Sep 18, 2024 | House · vote #426 | On Motion to Recommit | Failed | 206–213 | See who voted → |
Plain-English summary
Roll back ESG To Increase Retirement Earnings Act or the RETIRE Act
This bill generally requires fiduciaries of employer-sponsored retirement plans to make investment decisions based only on pecuniary factors (i.e., factors that a fiduciary prudently determines are expected to have a material effect on the risk or return of an investment based on appropriate investment horizons consistent with the plan's policies and objectives).
The bill allows nonpecuniary factors to be considered in certain situations, such as when selecting investment options for certain participant-directed retirement plans or if the fiduciary is unable to distinguish between investment alternatives on the basis of pecuniary factors alone.
What's happening now
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Committees of jurisdiction
2
Cosponsors
1