HONEST Enterprise Act

Hozzl · 2022-12-31T04:58:49Z

Explore the details of House Bill 4156 HONEST Enterprise Act currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Commerce. Stay informed on legislative developments.

12/31/2022, 4:58 AM

Summary of Bill HR 4156

The HONEST Enterprise Act, also known as Bill 117 hr 4156, is a piece of legislation currently being considered by the US Congress. The main goal of this bill is to promote transparency and accountability in business practices by requiring companies to disclose certain information to consumers and investors.

One key provision of the HONEST Enterprise Act is the requirement for companies to provide clear and accurate information about their products and services. This includes disclosing any potential risks or limitations associated with their offerings, as well as any conflicts of interest that may exist.

Additionally, the bill aims to crack down on fraudulent and deceptive business practices by increasing penalties for companies found to be engaging in such behavior. This includes fines and potential criminal charges for individuals involved in fraudulent activities. The HONEST Enterprise Act also seeks to protect whistleblowers who come forward with information about unethical or illegal practices within a company. The bill includes provisions to shield whistleblowers from retaliation and provide them with legal protections. Overall, the HONEST Enterprise Act is designed to promote honesty and integrity in the business world, and to hold companies accountable for their actions. It is currently being debated in Congress, with supporters arguing that it will help to protect consumers and investors, while opponents raise concerns about potential burdens on businesses.

Congressional Summary of HR 4156

Honoring Organizations Nationally for Ethics, Sustainability, and Trust Act or the HONEST Enterprise Act

This bill establishes the Compassionate Capitalist Award to be presented to organizations that substantially benefit the well-being of their employees, stakeholders, and communities with respect to the areas of environmental stewardship, governance, social responsibility, and worker empowerment.

The bill also establishes the Compassionate Capitalist Award Fund in the Department of the Treasury—composed of application fees charged to submit an application for the award and any gifts that the Department of Commerce may solicit for this purpose—to carry out the bill's provisions.

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Current Status of Bill HR 4156

Bill HR 4156 is currently in the status of Bill Introduced since June 24, 2021. Bill HR 4156 was introduced during Congress 117 and was introduced to the House on June 24, 2021. Bill HR 4156's most recent activity was Referred to the Subcommittee on Consumer Protection and Commerce. as of June 25, 2021

Bipartisan Support of Bill HR 4156

Total Number of Sponsors

Democrat Sponsors

Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

Democrat Cosponsors

Republican Cosponsors

Unaffiliated Cosponsors

Policy Area and Potential Impact of Bill HR 4156

Primary Policy Focus

Commerce

Alternate Title(s) of Bill HR 4156

To establish the Compassionate Capitalist Award to recognize organizations that substantially benefit the well-being of their employees, stakeholders, and communities, and for other purposes.

HONEST Enterprise Act

Honoring Organizations Nationally for Ethics, Sustainability, and Trust Act