Pay Our Military Act of 2025

Senate Bill

S. 3030

119th Congress

Pay Our Military Act of 2025

Read the second time. Placed on Senate Legislative Calendar under General Orders. Calendar No. 204.

Introduced:Oct 22, 2025

Primary Sponsor

Dan Sullivan

Senator

Republican

AK

Cosponsors

3

Quick Stats

Policy Area

Finance and Financial Sector

Summary

This bill would allow companies to more easily go public by letting them test the waters with investors and submit draft registration statements confidentially before filing them publicly. This is intended to make it simpler and less risky for companies to offer shares to the public.

Latest Action

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

AI Summary

Plain-English explanation of this bill

This bill would allow companies to more easily go public by letting them test the waters with investors and submit draft registration statements confidentially before filing them publicly. This is intended to make it simpler and less risky for companies to offer shares to the public.

Last updated: 12/29/2025

Official Summary

Congressional Research Service summary

Encouraging Public Offerings Act of 2023This bill provides statutory authority for all issuers of securities to use certain offering procedures that are available to emerging growth companies.Specifically, the bill allows under statute issuers of securities to communicate with potential investors to ascertain interest in a contemplated securities offering, either before or after the filing of a registration statement (i.e., test the waters).Additionally, issuers are allowed under statute to submit a confidential draft registration statement to the Securities and Exchange Commission for review prior to public filing or within one year after the initial public offering or registration.

Key Points

Main provisions of the bill

Allows companies to communicate with potential investors about a planned public offering before filing registration paperwork publicly.
Lets companies confidentially submit draft registration statements to the SEC for review before publicly filing them.
Aims to make it easier and less risky for companies to hold initial public offerings (IPOs) and offer shares to the public.

How This Impacts Americans

Potential effects on citizens and communities

If passed, this bill would primarily affect companies looking to go public and the investors who may buy their shares. It could lead to more companies deciding to offer shares to the public, potentially expanding investment options for everyday Americans. However, some are concerned it could also reduce transparency and investor protections around IPOs.

Policy Areas

Primary Policy Area

Finance and Financial Sector

Scope & Jurisdiction

Jurisdiction Level

federal

Congressional Session

119th Congress

Citation Reference

3030, 119th Congress (2025). "Pay Our Military Act of 2025". Source: Voter's Right Platform. https://votersright.org/bills/118-s-3030