Congress·Reported·H.R. 3959

Protecting Private Job Creators Act

Bond Market: Reducing Disclosure Requirements

Dec 17, 2025·View on Congress.gov·Read full text

This bill is one vehicle in a longer effort. See the full story across every version.View effort →

Next up: The House

This bill is waiting for a vote by the full House of Representatives after being approved by a committee. Nothing has happened with this bill since October 2025. It is currently stalled because no new actions have occurred in four months.

Legislative Progress

House

Senate

President

Law

How we got here

This bill’s path across every version that has carried it.

Reintroduced
Reintroduced from S. 3676 (118th), which died when its Congress ended.
S. 3676 (118th) →

Key Points

This bill changes how bonds and other types of corporate debt are traded. It removes a requirement that brokers must review a company's financial information before they can offer a price for that company's bonds in certain markets.
The goal is to make it easier and cheaper for businesses to raise money by selling debt. By cutting this regulatory requirement, supporters believe companies will have more cash available to expand their operations and hire more workers.
The policy specifically covers "fixed-income securities," which include things like corporate bonds, promissory notes, and certificates of deposit. It also includes debt that can be turned into company stock later on.
While this helps businesses borrow money more easily, some people worry it could lead to less transparency. Without these rules, it might be harder for some investors to get a clear picture of a company's financial health before they decide to buy its debt.

Impact Analysis

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

Milestones

3 milestones7 actions

Feb 25, 2026House

Placed on the Union Calendar, Calendar No. 448.

The bill is now on the schedule for the full chamber to consider. It's in line for debate and a vote.

Feb 25, 2026House

Reported (Amended) by the Committee on Financial Services. H. Rept. 119-523.

Dec 17, 2025House

Ordered to be Reported (Amended) by the Yeas and Nays: 41 - 11.

The committee approved this bill and is sending it to the full chamber for a vote. This is a significant step — most bills never get this far.

Dec 17, 2025House

Committee Consideration and Mark-up Session Held

Dec 16, 2025House

Committee Consideration and Mark-up Session Held

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

Source Information

Document Type

Congressional Bill

Official Title

Protecting Private Job Creators Act

Bill NumberHR 3959

Congress119th Congress

ChamberHouse of Representatives

Latest ActionPlaced on the Union Calendar, Calendar No. 448.

Data Sources

Congress.gov

Official legislative information

Read Full Bill Text

Sponsor

Cosponsors

(7)

D: 3R: 4

Analysis generated by AI. Always verify with official sources.