Investing: New Test for Private Investment Access
The Senate must act next: Senate consideration, where most legislation needs 60 votes to advance.
This bill passed the House with broad support. The idea of letting people invest based on what they know rather than how much they own has fans in both parties.
Scores run from -100 (strongly harmful) to +100 (strongly beneficial) for each group, combining impact, certainty, scope, and duration ratings of 1-5. How impact scoring works
Startups and private companies that raise money through Regulation D exemptions could tap a much larger pool of investors once ordinary people can qualify by passing a test instead of proving high income or net worth. This could make it easier for private businesses to raise capital without going through a full public stock offering.
“The Commission shall revise the definition of ``accredited investor'' under Regulation D (section 230.500 et seq. of title 17, Code of Federal Regulations) to include any natural person who is certified through the examination required under subsection (b).”
Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Sent to a congressional committee for expert review. The committee decides whether this bill moves forward.
Motion to reconsider laid on the table Agreed to without objection.
On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H3506)
The House fast-tracked this bill — limited debate, no amendments allowed, but needs two-thirds support to pass.
Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H3506)
The House fast-tracked this bill — limited debate, no amendments allowed, but needs two-thirds support to pass.
DEBATE - The House proceeded with forty minutes of debate on H.R. 3339.
The House passed the INVEST Act (H.R. 3383), a package of over 20 bills including the Equal Opportunity for All Investors Act. The legislation requires the SEC to direct FINRA to create a 'new, rigorous investment exam' to allow individuals to earn accredited investor status regardless of wealth.
SEC Chairman Paul Atkins told senators it is time to consider alternatives beyond wealth for accredited investor status. The report notes the Equal Opportunity for All Investors Act, which passed the House, would require a new investment exam to determine sophistication instead of net worth.
No votes or related bills recorded for this bill yet.
Document Type
Congressional Bill
Official Title
Equal Opportunity for All Investors Act of 2025
Analysis generated by AI. Always verify with official sources.