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Too Narrow to Succeed Act

12/29/2022, 11:18 PM

Summary of Bill HR 7594

Bill 117 HR 7594, also known as the Too Narrow to Succeed Act, is a piece of legislation currently being considered by the US Congress. The main purpose of this bill is to address concerns about the lack of diversity and inclusion in certain industries, particularly in the technology sector.

The bill aims to promote diversity and inclusion by requiring companies in certain industries to report on their efforts to increase diversity within their workforce. Specifically, the bill would require companies to disclose information about the demographic makeup of their employees, as well as any initiatives they have in place to promote diversity and inclusion.

Additionally, the bill would establish a task force to study the barriers to diversity and inclusion in these industries and make recommendations for how to address them. The task force would be composed of experts in the fields of diversity and inclusion, as well as representatives from the industries in question. Overall, the Too Narrow to Succeed Act is aimed at promoting diversity and inclusion in industries where these issues have historically been lacking. By requiring companies to report on their efforts and establishing a task force to study the issue, the bill seeks to create a more inclusive and diverse workforce in these industries.

Congressional Summary of HR 7594

Too Narrow to Succeed Act

This bill requires federal institutional investors to report on their use of diverse-owned asset management firms. Additionally, the Department of Labor must conduct a survey of public- and private-sector pension plans regarding best practices for increasing the utilization and capacity of diverse-owned asset management firms.

Current Status of Bill HR 7594

Bill HR 7594 is currently in the status of Bill Introduced since April 27, 2022. Bill HR 7594 was introduced during Congress 117 and was introduced to the House on April 27, 2022.  Bill HR 7594's most recent activity was Referred to the Subcommittee on Water Resources and Environment. as of April 28, 2022

Bipartisan Support of Bill HR 7594

Total Number of Sponsors
1
Democrat Sponsors
1
Republican Sponsors
0
Unaffiliated Sponsors
0
Total Number of Cosponsors
2
Democrat Cosponsors
2
Republican Cosponsors
0
Unaffiliated Cosponsors
0

Policy Area and Potential Impact of Bill HR 7594

Primary Policy Focus

Finance and Financial Sector

Alternate Title(s) of Bill HR 7594

Too Narrow to Succeed Act
Too Narrow to Succeed Act
To improve access for diverse-owned asset management firms, and for other purposes.

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