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H.R. 3382119th CongressFinance and Financial Sector
Small Entity Update Act
Sponsored by Rep. Ann Wagner (R-MO) · 7 active : 2 Republicans, 5 Democrats
Latest action: Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Where it standsPassed House, now in the Senate7 senators score as swing votes
Passed House
- House: passedJul 21, 2025
- Senate: next
- President: not yet
Summary
, via Congress.govSmall Entity Update Act
This bill requires the Securities and Exchange Commission (SEC) to study approaches to reduce the impact of SEC rules on small businesses and other small entities, make appropriate recommendations, and revise applicable rules.
Specifically, the bill requires the SEC to evaluate the current definition of
small entity
with respect to SEC rules.
Under the bill, the SEC must provide specific and detailed recommendations to Congress on how the SEC can revise the definition of
small entity
Read full summaryHide full summary
to (1) align with specified statutory goals, including reducing unnecessary burdens on small entities; and (2) expand the number of entities covered. In addition, the SEC must adjust for inflation every five years any dollar amounts used to define small entities.
The SEC must also revise the applicable rules to implement these recommendations.
Committees and subjects
Committees
- House Committee on Financial Services · HouseReported by · Markup by · Referred to
- Senate Committee on Banking, Housing, and Urban Affairs · SenateReferred to
Subjects
- Administrative law and regulatory procedures
- Congressional oversight
- Government studies and investigations
- Securities and Exchange Commission (SEC)
- Small business
How the Senate breaks down
- 7Swing 70–100
- 65Middle 30–70
- 28Entrenched 0–30
Members fall into . All 100 senators have enough data to score.
Key players in the Senate
Ranked by swing score, 0–100 · swing-v2Bars show each input from 0 to 100: ideology gap, scorecard gap, . is the seat’s partisan lean, and shows how much of the input data a score has.
Similar past votes, Senate
Earlier behind swing-v3’s inputLoading similar votes
Cosponsors
7 activeShow all 7 cosponsors
- David Scott (D-GA-13)
- Pete Sessions (R-TX-17)
- Ritchie Torres (D-NY-15)
- Sean Casten (D-IL-6)
- James A. Himes (D-CT-4)
- Eugene Simon Vindman (D-VA-7)
- Michael Lawler (R-NY-17)
How the swing score works
Ideology gapHow far a member’s DW-NOMINATE voting score sits from their party’s median in the same chamber.
Scorecard gapHow far their Heritage Action and LCV ratings stray from their party’s average, using the groups’ votes on similar bills where available.
Cross-pressureHow strongly their district or state leans toward the other party, from our own computed partisan lean.
Similar votesHow often they voted against their own party on earlier roll calls about this bill or similar ones.
Committee bonusMembers of the committees handling the bill decide whether it moves, so they get a boost.
Cosponsor checkThe sponsor and active cosponsors have already committed, so they drop toward entrenched.
