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H.R. 7127

U.S. House•House Floor Calendar

Summary

H.R. 7127, the Restoring the Secondary Trading Market Act, was introduced in the House on Jan 16, 2026 by Rep. Dan Meuser (R). It last saw action on Mar 25, 2026: Placed on the Union Calendar, Calendar No. 493.

Record

Text

H.R. 7127 has no co-sponsors and has not gone to a roll call.

hb7127/introduced-in-house.txt
119 HR 7127 IH: Restoring the Secondary Trading Market Act
 U.S. House of Representatives
 2026-01-16
 text/xml
 EN
 Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.
 I  119th CONGRESS  2d Session  H. R. 7127  IN THE HOUSE OF REPRESENTATIVES   January 16, 2026   Mr. Meuser  introduced the following bill; which was referred to the  Committee on Financial Services    A BILL
To amend the Securities Act of 1933 to exempt off-exchange secondary trading from State regulation where such trading is with respect to securities of an issuer that makes publicly available certain current information, and for other purposes.
1.
Short title
This Act may be cited as the   Restoring the Secondary Trading Market Act  .
2.
Exemption from State regulation
Section 18(a) of the Securities Act of 1933 ( 15 U.S.C. 77r(b)(4) ) is amended—
(1)
in paragraph (2), by striking  or  at the end;
(2)
in paragraph (3), by striking the period at the end and inserting  ; or ; and
(3)
by adding at the end the following:
(4)
shall directly or indirectly prohibit, limit, or impose any conditions upon the off-exchange secondary trading (as such term is defined by the Commission) in securities of an issuer that makes current information publicly available, including—
(A)
the information required in the periodic and current reports described under paragraph (b) of section 230.257 of title 17, Code of Federal Regulations; or
(B)
the documents and information specified in paragraph (b) of section 15c2–11 of title 17, Code of Federal Regulations.
 .

Tracker

The tracker indicates the progress of this legislation as it moves through the legislative process.

  1. Introduced2026-01-16
  2. Passed House
  3. Passed Senate
  4. Conference
  5. To President
  6. Became Law

CRS Summary

The summaries are the Congressional Research Service’s, one per stage. Read them in full.

Reported to House Mar 25, 2026

hb7127/reported-to-house.md

Shown Here:
Reported to House (03/25/2026)

Restoring the Secondary Trading Market Act

This bill prohibits states from banning, limiting, or imposing conditions upon off-exchange secondary trading of securities. This prohibition applies if the issuer of those securities provides public information on the issuer's financial status in accordance with federal regulations.

Sponsors

Rep. Dan Meuser (R) sponsors H.R. 7127 alone.

Dan Meuser

Rep. · R–PA-9 · Sponsor

Committees

H.R. 7127 went before 1 committee: Financial Services.

Financial Services
Financial Services
Reported By · Mar 25, 2026 · 559 Bills

Reports

1 committee report has been filed on H.R. 7127, the latest H. Rept. 119-573.

Actions

H.R. 7127 has taken 6 actions since Jan 16, 2026, the latest on Mar 25, 2026.

ChamberAction
Mar 25, 2026
House
Reported (Amended) by the Committee on Financial Services. H. Rept. 119-573.Financial Services Committee
Mar 25, 2026
House
Placed on the Union Calendar, Calendar No. 493.
Mar 4, 2026
House
Committee Consideration and Mark-up Session HeldFinancial Services Committee
Mar 4, 2026
House
Ordered to be Reported by the Yeas and Nays: 26 - 17.Financial Services Committee
Jan 16, 2026
House
Introduced in House

Votes

H.R. 7127 has not gone to a roll call.

Titles

H.R. 7127 goes by 4 titles, 2 of them short titles.

  • Restoring the Secondary Trading Market Act — Short Title(s) as Reported to House
  • Restoring the Secondary Trading Market Act — Display Title
  • Restoring the Secondary Trading Market Act — Short Title(s) as Introduced
  • To amend the Securities Act of 1933 to exempt off-exchange secondary trading from State regulation where such trading is with respect to securities of an issuer that makes publicly available certain current information, and for other purposes. — Official Title as Introduced

Cost estimate

The Congressional Budget Office has filed 1 estimate for H.R. 7127, the latest on Jul 16, 2026.

Lobbying

3 clients hired 3 firms and 108 registered lobbyists who named H.R. 7127 in 7 quarterly filings, 2026. Reported under the Lobbying Disclosure Act; a filing’s income covers everything its registrant worked that quarter, so the amounts below are the filings’, not this bill’s.

Filed under Financial Institutions/Investments/Securities, Health Issues, Taxation/Internal Revenue Code, Government Issues, Automotive Industry, Aviation/Airlines/Airports, Banking, Budget/Appropriations.

Clients

Who paid to be heard, by how many filings named the bill.

ClientBusinessStateFirmsFilingsReported
CHAMBER OF COMMERCE OF THE U.S.A.—District of Columbia13—
AMERICAN ASSOCIATION FOR JUSTICE—District of Columbia12—
AMERICANS FOR FINANCIAL REFORM—District of Columbia12—

Firms

Registrants who filed on the bill, by filings.

RegistrantClientsFilingsReported
CHAMBER OF COMMERCE OF THE U.S.A.13—
AMERICAN ASSOCIATION FOR JUSTICE12—
AMERICANS FOR FINANCIAL REFORM12—

Lobbyists

Named on the filings that cite the bill. The 20 named most often, of 108.

LobbyistFirmsClientsFilings
ABELARDO TORRES113
ALEXA BRANSON113
AMANDA MAYS113
ANDREA PORWOLL113
ASHLEY GUM113
BENJAMIN KRON113
BRADLEY WATTS113
BRINCE MANNING113
BROOKE MILLER113
CASSIA CARVALHO113
CHAD WHITEMAN113
CHANTEL SHEAKS113
CHRISTOPHER CRENSHAW113
CHRISTOPHER EYLER113
CHRISTOPHER GUITH113
CHRISTOPHER ROBERTI113
CLARK JACKSON113
DAN BYERS113
DAVID SMENTEK113
ERIN DELANEY113

Filings

The documents themselves, on the Senate’s Lobbying Disclosure site, largest reported first.

ClientRegistrantPeriodReportedDocument
CHAMBER OF COMMERCE OF THE U.S.A.CHAMBER OF COMMERCE OF THE U.S.A.2026 first_quarter$19.8M1st Quarter - Amendme…
CHAMBER OF COMMERCE OF THE U.S.A.CHAMBER OF COMMERCE OF THE U.S.A.2026 first_quarter$19.8M1st Quarter - Report
CHAMBER OF COMMERCE OF THE U.S.A.CHAMBER OF COMMERCE OF THE U.S.A.2026 second_quarter$17M2nd Quarter - Report
AMERICAN ASSOCIATION FOR JUSTICEAMERICAN ASSOCIATION FOR JUSTICE2026 second_quarter$1.8M2nd Quarter - Report
AMERICAN ASSOCIATION FOR JUSTICEAMERICAN ASSOCIATION FOR JUSTICE2026 first_quarter$1.5M1st Quarter - Report
AMERICANS FOR FINANCIAL REFORMAMERICANS FOR FINANCIAL REFORM2026 first_quarter$150K1st Quarter - Report
AMERICANS FOR FINANCIAL REFORMAMERICANS FOR FINANCIAL REFORM2026 first_quarter$120K1st Quarter - Amendme…

Classification

The Congressional Research Service files H.R. 7127 under Finance and Financial Sector, one of its 31 policy areas, and gives it 5 legislative subjects.

CRS Subjects

CRS assigns every bill one policy area from its 31; H.R. 7127’s is Finance and Financial Sector.

hr7127/policy-areas.txt
Finance and Financial SectorAgriculture and FoodAnimalsArmed Forces and National SecurityArts, Culture, ReligionCivil Rights and Liberties, Minority IssuesCommerceCongressCrime and Law EnforcementEconomics and Public FinanceEducationEmergency ManagementEnergyEnvironmental ProtectionFamiliesForeign Trade and International FinanceGovernment Operations and PoliticsHealthHousing and Community DevelopmentImmigrationInternational AffairsLabor and EmploymentLawNative AmericansPublic Lands and Natural ResourcesScience, Technology, CommunicationsSocial WelfareSports and RecreationTaxationTransportation and Public WorksWater Resources Development

Legislative Subjects

H.R. 7127 carries 5 of CRS’s legislative subjects, from Business records to State and local government operations.

hr7127/subjects.txt
Business recordsCorporate finance and managementFinancial services and investmentsSecuritiesState and local government operations

Constitutional authority

The clause the sponsor cites as Congress’s power to enact H.R. 7127, as entered in the Congressional Record.

[Congressional Record Volume 172, Number 12 (Friday, January 16, 2026)][House]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. MEUSER:H.R. 7127.Congress has the power to enact this legislation pursuantto the following:Article I, Section 8 of the United States Constitution.[Page H924]

Source: congress.gov · legiscan.com