Congress·Passed House·H.R. 3395

Middle Market IPO Cost Act

Study on Costs for Small Companies to Go Public

Jul 22, 2025·View on Congress.gov·Read full text

Next up: The SenateNo action in 11 months

The Senate must act next: Senate consideration, where most legislation needs 60 votes to advance.

Legislative Progress

✓ House

Senate

President

Law

Likely to pass

The bill passed the House with enough support to move to the Senate. Study bills about business costs usually have a good chance of becoming law because they do not immediately change any rules.

Key Points

This bill requires a government watchdog to study why it is so expensive for small and medium businesses to join the stock market. It looks at the fees paid to banks, lawyers, and accountants when a company first sells shares to the public for the first time.
The study will compare the cost of going public against other ways of getting money, like taking out loans. It will also look at how these high costs might prevent regular people from being able to invest in growing companies.
A final report is due within one year of the bill becoming law. This report will include suggestions for new laws or rules that could make it easier and cheaper for smaller companies to grow by selling stock.

Impact Analysis

Govbase has not yet run an impact analysis on this legislation.

Milestones

4 milestones13 actions

Jul 22, 2025Senate

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.

Jul 21, 2025House

Motion to reconsider laid on the table Agreed to without objection.

Jul 21, 2025House

On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H3511-3512)

The House fast-tracked this bill — limited debate, no amendments allowed, but needs two-thirds support to pass.

Jul 21, 2025

Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text: CR H3511-3512)

The House fast-tracked this bill — limited debate, no amendments allowed, but needs two-thirds support to pass.

Jul 21, 2025House

DEBATE - The House proceeded with forty minutes of debate on H.R. 3395.

No votes, news coverage, or related bills recorded for this bill yet.

Source Information

Document Type

Congressional Bill

Official Title

Middle Market IPO Cost Act

Bill NumberHR 3395

Congress119th Congress

ChamberHouse of Representatives

Latest ActionReceived in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Data Sources

Congress.gov

Official legislative information

Read Full Bill Text

Sponsor

Cosponsors

(2)

R: 2

Analysis generated by AI. Always verify with official sources.