IDeA Reauthorization Act of 2025

Senate Bill

S. 2005

119th Congress

IDeA Reauthorization Act of 2025

In Committee

Introduced:Jun 10, 2025

Primary Sponsor

Cindy Hyde-Smith

Senator

Republican

MS

Cosponsors

9

Quick Stats

Policy Area

Finance and Financial Sector

Summary

This bill would allow companies to decide what information they need to disclose to investors and the public. It would limit the types of details the Securities and Exchange Commission (SEC) can require companies to share in their financial filings.

Latest Action

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

SponsorCindy Hyde-Smith (R-MS)

Introduced6/10/2025

StatusRead twice and referred to the Committee on Health, Education, Labor, and Pensions.

ChamberSenate

Data from Congress.gov

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Vote Prediction

IDeA Reauthorization Act of 2025

This bill would allow companies to decide what information they need to disclose to investors and the public. It would limit the types of details the Securities and Exchange Commission (SEC) can require companies to share in their financial filings.

Community Breakdown

Pass

0%

Fail

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This bill would allow companies to decide what information they need to disclose to investors and the public. It would limit the types of details the Securities and Exchange Commission (SEC) can require companies to share in their financial filings.

Bill Number: 2005
Sponsor: Cindy Hyde-Smith (R-MS)
Introduced: 6/10/2025
Status: Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
Policy Area: Finance and Financial Sector

Data from Congress.gov

AI-generated summary

Fact Sheet

Title: IDeA Reauthorization Act of 2025
Bill Number: 2005
Sponsor: Cindy Hyde-Smith (R-MS)
Status: Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
Introduced: 6/10/2025
Summary: This bill would allow companies to decide what information they need to disclose to investors and the public. It would limit the types of details the Securities and Exchange Commission (SEC) can require companies to share in their financial filings.

Data from Congress.gov

AI Summary

Plain-English explanation of this bill

This bill would allow companies to decide what information they need to disclose to investors and the public. It would limit the types of details the Securities and Exchange Commission (SEC) can require companies to share in their financial filings.

Last updated: 12/30/2025

Official Summary

Congressional Research Service summary

Mandatory Materiality Requirement Act of 2023 This bill requires the Securities and Exchange Commission (SEC) to limit issuer disclosure requirements made in a rulemaking. Specifically, the SEC must provide that an issuer of securities is only required to disclose information in response to a rulemaking if the issuer determines that this information is important to a voting or investment decision regarding the issuer.

Key Points

Main provisions of the bill

The bill would give companies more control over what information they must disclose to the SEC and the public.
It would require the SEC to only mandate the disclosure of information that a company deems 'important' to investment or voting decisions.
The goal is to reduce the compliance burden on companies by limiting the types of details they must report.

How This Impacts Americans

Potential effects on citizens and communities

This bill would primarily impact publicly traded companies and the investors who rely on their financial disclosures. If enacted, it could lead to less transparency around company operations, finances, and risks, making it harder for investors to make informed decisions. Consumers and the general public could also be affected if important information about products, services, or corporate practices is no longer required to be shared.

Policy Areas

Primary Policy Area

Finance and Financial Sector

Related Subjects

Administrative law and regulatory procedures

Business investment and capital

Financial services and investments

Securities

Securities and Exchange Commission (SEC)

Scope & Jurisdiction

Jurisdiction Level

federal

Congressional Session

119th Congress

Citation Reference

2005, 119th Congress (2025). "IDeA Reauthorization Act of 2025". Source: Voter's Right Platform. https://votersright.org/bills/118-s-2005

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