Press Releases

Today, the U.S. House of Representatives passed H.R. 4790, the Prioritizing Economic Growth Over Woke Policies Act, by a vote of 215 to 203. H.R. 4790, introduced by Congressman Bill Huizenga (R-MI), is designed to make it easier for Americans to save for retirement, increase financial security, and strengthen U.S. capital markets. H.R. 4790 achieves this by preventing regulatory overreach, restoring the materiality standard, holding large proxy advisory firms accountable, and blocking regulators from inserting ESG and woke initiatives into our financial system.

“The mandates being put forward by the Biden-Harris Administration make it so my constituents will retire with less financial security,” said Congressman Bill Huizenga. “With inflation and high prices negatively impacting seniors on a fixed income as well as individuals and families trying to find a way to make ends meet, Washington shouldn’t be making it harder for Southwest Michigan families to achieve the American Dream.”

“The Promoting Economic Growth Over Woke Policies Act corrects the misguided social policies that have been weaponized by rogue regulators and liberal activist investors by restoring power to retail investors,” continued Huizenga. “Stopping these misguided mandates will help everything from larger city police pension funds to a married couple in Southwest Michigan looking for better returns and greater financial security. This legislation is a win for families in Battle Creek, Holland, Kalamazoo, Mattawan, Plainwell, St. Joe, and everywhere in between who are working to build a brighter and more secure financial future.”

Prior to passage of H.R. 4790, Congressman Huizenga spoke on the House floor to discuss the importance of materiality and reasonable regulatory requirements. Video of Congressman Huizenga’s remarks is available below.

“Let’s seize this opportunity to protect workers, create jobs, protect job creators and everyday investors from radical ESG initiatives that put left-wing political goals above American prosperity,” said Huizenga in his closing remarks. “Let’s ensure our financial system remains the envy of the world.”