Press Releases

Yesterday, the House Committee on Financial Services, led by Chairman French Hill (AR-02), successfully reported 5 bills to the House of Representatives.

"The bills before us reflect President Trump and Republicans’ shared commitment to promoting pro-growth, America-first policies,” said Chairman Hill. “We are working to strengthen Main Street, expand access to capital, support American businesses, and ensure our financial system remains the most dynamic in the world."

H.R. 7688, the DPA Modernization Act of 2026, introduced by Subcommittee on National Security, Illicit Finance, and International Financial Institutions Chairman Warren Davidson (OH-08), Vice Chair Bill Huizenga (MI-04), National Security, Illicit Finance, and International Financial Institutions Ranking Member Joyce Beatty (OH-03), and Reps. Zach Nunn (IA-03) and Juan Vargas (CA-52), passed 41-0. This bill modernizes and reauthorizes the Defense Production Act through 2031. It updates federal authorities that allow the government to prioritize contracts and mobilize domestic industry to support national security, strengthens critical supply chains, and supports U.S. manufacturing capacity during emergencies.

• Watch Rep. Davidson’s remarks here. 
• Watch Rep. Huizenga’s remarks here.
• Watch Rep. Nunn’s remarks here.

H.R. 6955, the Main Street Capital Access Act, offered by Chairman Hill and Subcommittee on Financial Institutions Chairman Andy Barr (KY-06), passed 26-16. This bill will revitalize local bank formation and ensure that community lenders can focus on serving families, small businesses, and local economies, making life more affordable for Americans and empowering Main Street.

• Watch Chairman Hill’s remarks here.
• Watch Rep. Barr’s remarks here.

H.R. 2071, the Save Our Shrimpers Act, sponsored by Rep. Troy Nehls (TX-22), passed 42-1. This bill protects domestic shrimping aquaculture by requiring U.S. opposition to projects by the international financial institutions (e.g., the World Bank) involving foreign shrimp production.

• Watch Rep. Barr’s remarks in support of Rep. Nehls’ bill here.

H.R. 4171, the Small Entrepreneurs’ Empowerment and Development (SEED) Act of 2025, sponsored by Rep. Andrew Garbarino (NY-02), passed 26-17. This bill creates an exemption under the Securities Act of 1933 that allows small businesses and startups to raise limited amounts of early-stage capital without being subject to certain costly disclosure and filing requirements.

• Watch Rep. Barr’s remarks in support of Rep. Garbarino’s bill here.

H.R. 7127, the Restoring the Secondary Trading Market Act, sponsored by Subcommittee on Oversight and Investigations Chairman Dan Meuser (PA-09) passed 26-17. This bill amends federal securities law to preempt certain state “blue sky” regulations for qualifying off-exchange secondary market transactions, creating a more uniform regulatory framework and helping improve liquidity and efficiency in capital markets.

• Watch Rep. Meuser’s remarks here.

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