Ann Wagner: “I thank the chairman and congratulate him on this compilation of 20 fantastic bills that were favorably reported out of…”

“I thank the chairman and congratulate him on this compilation of 20 fantastic bills that were favorably reported out of Financial Services. Mr. Speaker, I rise today in support of this package, which includes a bill of mine, H.R. 4662, the Corporate Governance Examination Act. Too often, politically or socially motivated shareholders' proposals cause investors to shoulder increased and unnecessary costs. My legislation will examine whether the proposal process has become unnecessarily politicized and help ensure these proposals don't deter future investors or endanger current investors. This important legislation would require the SEC to conduct comprehensive studies on shareholders' proposals, proxy advisory firms, and proxy process. These studies will address key problems in politically and socially motivated proposals, such as financial incentives and obligations of involved parties, the impact on long-term retail investors, the influence of proxy advisory firms, and the costs incurred by companies in response to shareholders' proposals. These studies will provide data-driven insights to enhance shareholders' value and promote transparent corporate governance practices. I thank the Members who have bills in this package today for their incredible work toward upholding our capitalist society and urge my colleagues to support this package.”