ABLE Employment Flexibility Act

House Bill

H.R. 4644

119th Congress

ABLE Employment Flexibility Act

In Committee

Introduced:Jul 23, 2025

Primary Sponsor

Erin Houchin

Representative

Republican

IN-9

Cosponsors

0

Quick Stats

Policy Area

Finance and Financial Sector

Summary

This bill would make it easier for companies to exclude certain shareholder proposals from their annual proxy materials. It would allow them to exclude proposals that have already been implemented, duplicate previous proposals, or address the same topic as previous proposals. The bill would also prevent the Securities and Exchange Commission from implementing a new rule about when companies can exclude shareholder proposals.

Latest Action

Sponsor introductory remarks on measure. (CR H3903-3904)

SponsorErin Houchin (R-IN)

Introduced7/23/2025

StatusReferred to the House Committee on Ways and Means.

ChamberHouse

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Vote Prediction

ABLE Employment Flexibility Act

This bill would make it easier for companies to exclude certain shareholder proposals from their annual proxy materials. It would allow them to exclude proposals that have already been implemented, duplicate previous proposals, or address the same topic as pre

Community Breakdown

Pass

0%

Fail

0%

0 predictions

This bill would make it easier for companies to exclude certain shareholder proposals from their annual proxy materials. It would allow them to exclude proposals that have already been implemented, duplicate previous proposals, or address the same topic as previous proposals. The bill would also prevent the Securities and Exchange Commission from implementing a new rule about when companies can exclude shareholder proposals.

Bill Number: 4644
Sponsor: Erin Houchin (R-IN)
Introduced: 7/23/2025
Status: Referred to the House Committee on Ways and Means.
Policy Area: Finance and Financial Sector

Data from Congress.gov

AI-generated summary

Fact Sheet

Title: ABLE Employment Flexibility Act
Bill Number: 4644
Sponsor: Erin Houchin (R-IN)
Status: Referred to the House Committee on Ways and Means.
Introduced: 7/23/2025
Summary: This bill would make it easier for companies to exclude certain shareholder proposals from their annual proxy materials. It would allow them to exclude proposals that have already been implemented, duplicate previous proposals, or address the same topic as previous proposals. The bill would also pre

Data from Congress.gov

AI Summary

Plain-English explanation of this bill

This bill would make it easier for companies to exclude certain shareholder proposals from their annual proxy materials. It would allow them to exclude proposals that have already been implemented, duplicate previous proposals, or address the same topic as previous proposals. The bill would also prevent the Securities and Exchange Commission from implementing a new rule about when companies can exclude shareholder proposals.

Last updated: 12/30/2025

Official Summary

Congressional Research Service summary

<html><body>No Expensive, Stifling Governance Act of 2023 or the No ESG Act of 2023 This bill allows an issuer of securities to exclude a shareholder proposal from its proxy materials if that proposal (1) has been substantially implemented by the issuer through policies, practices, or procedures; (2) duplicates another proposal contained in the proxy materials; or (3) addresses the same subject matter as a previously offered proposal. The bill provides time frames and voting percentages for the previously offered proposal that, if applicable, allow an issuer to exclude the new shareholder proposal. The bill also prohibits the Securities and Exchange Commission from implementing a proposed rule published on July 27, 2022, titled Substantial Implementation, Duplication, and Resubmission of Shareholder Proposals under Exchange Act Rule 14a—8, which addresses the exclusion of shareholder proposals. </body></html>

Key Points

Main provisions of the bill

Allows companies to exclude certain shareholder proposals from their proxy materials
Provides time frames and voting percentages for when companies can exclude proposals
Prohibits the SEC from implementing a new rule about excluding shareholder proposals

How This Impacts Americans

Potential effects on citizens and communities

If this bill becomes law, it would make it harder for shareholders to get certain proposals on a company's proxy ballot for a vote. This could reduce the ability of shareholders, including individual investors, to influence a company's policies and practices on issues like the environment, social responsibility, and corporate governance. Companies would have more flexibility to exclude proposals they don't want shareholders to consider.

Policy Areas

Primary Policy Area

Finance and Financial Sector

Scope & Jurisdiction

Jurisdiction Level

federal

Congressional Session

119th Congress

Citation Reference

4644, 119th Congress (2025). "ABLE Employment Flexibility Act". Source: Voter's Right Platform. https://votersright.org/bills/118-hr-4644

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