Protecting U.S. Business Sovereignty Act
12/15/2023, 4:00 PMSummary of Bill HR 4625
Bill 118 hr 4625, also known as the Protecting U.S. Business Sovereignty Act, is a piece of legislation currently being considered by the US Congress. The main purpose of this bill is to protect American businesses from foreign interference and ensure that they maintain their sovereignty.The bill aims to achieve this by implementing several key measures. Firstly, it seeks to strengthen the ability of US businesses to resist pressure from foreign governments that may seek to influence their operations or decision-making processes. This includes providing legal protections for businesses that refuse to comply with foreign demands that may compromise their independence or integrity.
Additionally, the bill includes provisions to enhance transparency and accountability in the relationships between US businesses and foreign entities. This includes requiring businesses to disclose any financial or contractual relationships they have with foreign governments or organizations, as well as mandating regular reporting on any attempts by foreign entities to exert influence over their operations. Furthermore, the Protecting U.S. Business Sovereignty Act includes measures to bolster the enforcement of existing laws and regulations that protect American businesses from unfair competition or predatory practices by foreign entities. This includes increasing penalties for violations of these laws and providing additional resources to agencies responsible for enforcing them. Overall, the goal of Bill 118 hr 4625 is to safeguard the sovereignty and independence of American businesses in the face of increasing global competition and potential threats from foreign actors. By strengthening protections and promoting transparency, the bill aims to ensure that US businesses can continue to thrive and contribute to the country's economic growth and prosperity.
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Current Status of Bill HR 4625
Bill HR 4625 is currently in the status of Bill Introduced since July 13, 2023. Bill HR 4625 was introduced during Congress 118 and was introduced to the House on July 13, 2023. Bill HR 4625's most recent activity was Referred to the House Committee on Foreign Affairs. as of July 13, 2023Bipartisan Support of Bill HR 4625
Total Number of Sponsors
1Democrat Sponsors
0Republican Sponsors
1Unaffiliated Sponsors
0Total Number of Cosponsors
0Democrat Cosponsors
0Republican Cosponsors
0Unaffiliated Cosponsors
0Policy Area and Potential Impact of Bill HR 4625
Primary Policy Focus
Alternate Title(s) of Bill HR 4625
Protecting U.S. Business Sovereignty ActProtecting U.S. Business Sovereignty ActTo require the Comptroller General of the United States to conduct a study on the detrimental impact of the Directive on Corporate Sustainability Due Diligence and the Corporate Sustainability Reporting Directive on United States companies, and for other purposes.Comments
Most relevant
Sponsors and Cosponsors of HR 4625
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