David McCormick (R-PA)
Expanding WKSI Eligibility Act
A Republican bill with 1 Democratic cosponsor · See the cosponsor
Last activity — Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
In committee
Introduced and handed to a committee in the chamber it started in.
The committee holds it, and most bills are never heard from again. A hearing or a committee vote would be news; silence is the usual outcome, and it kills the bill without anyone voting against it.
Its path through Congress
- Introduced
- In Committee
What this bill would do
This bill, known as the ``Expanding WKSI Eligibility Act'', aims to change the rules for becoming a well-known seasoned issuer. It proposes to lower the amount of aggregate market value of voting and non-voting common equity required for an issuer to qualify. Specifically, an issuer would qualify if the value held by non-affiliates is $400,000,000 or more. The bill also requires the Securities and Exchange Commission to publish an annual report. This report must include the total number of withdrawn applications from those seeking to avoid being considered an ineligible issuer to meet the well-known seasoned issuer definition.
Yes· 3 of 5
- Scored +5
Would business owners be better off under this?
The bill reduces the barriers for company owners to achieve well-known seasoned issuer status.
- Scored +3
Is this likely to grow the economy?
Lowering the equity threshold for WKSI status facilitates easier capital raising for companies.
- Scored +3
Does this make what the government does easier for the public to see?
The bill mandates annual SEC reporting on withdrawn applications regarding WKSI status.
The opposite
No question was scored the opposite.
Who it would affect, and how
Potential Positive Impacts for People
-
Easier Qualification for Issuer Status: By lowering the required aggregate market value of equity to $400,000,000, certain issuers may more easily qualify as a "well-known seasoned issuer" under Section 2, subsection (a).
-
Increased Transparency: The Securities and Exchange Commission will be required to publish a report every 90 days after the end of each calendar year regarding withdrawn applications, which provides specific data on how many applicants withdrew their requests to meet the well-known seasoned issuer definition under Section 2, subsection (b).
Potential Negative Impacts for People
- No negative impacts are explicitly stated in the provided text.
Groups and Interests Ranking
Every group the model scored this bill for, from -10 to +10. Tap or hover a score for the reason it gave.
- Demographic And Interest Groups
- Would business owners be better off under this? — The bill reduces the barriers for company owners to achieve well-known seasoned issuer status. Would high-income households be better off under this? — Easier capital raising for corporations can benefit high-income investors through market efficiency.
- Economy And Finance
- Is this likely to grow the economy? — Lowering the equity threshold for WKSI status facilitates easier capital raising for companies. Does this make it easier to run a small business? — The bill makes it easier for mid-sized companies to access certain securities law advantages previously reserved for larger entities.
- Governance And Ideology
- Does this make what the government does easier for the public to see? — The bill mandates annual SEC reporting on withdrawn applications regarding WKSI status.
- 1/29/2026
- Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
- 1 Cosponsor added.
- Introduced in Senate
One bill Congress.gov lists as related to this one — companions in the other chamber, earlier versions, and bills this one absorbed or was folded into.
Lisa Blunt RochesterDemocrat · Delaware