The record

LegislationLegislation· Jul 2025
HR 3395 Passed House — in Senate

Sponsored by James A. Himes (D)

Middle Market IPO Cost Act

Orders a federal study of costs small and medium-sized companies face when going public.

Tradeoff

Requires a Government Accountability Office study on IPO costs, with no direct spending or revenue impact stated.

What's in it

See official bill text

Costs $1 million over 2025-2026 for a Government Accountability Office study on IPO costs for small- and medium-sized companies.

The $1 million is the federal cost to conduct and report a study on IPO expenses — the bill itself creates no direct spending or tax changes and imposes no mandates on companies or states.

H.R. 3395, Middle Market IPO Cost Act · Jul 2025

Passed the House by on July 21, 2025 — sitting in the Senate.

  1. House

    Introduced

    (May 14, 2025)

  2. House

    Committee on Financial Services(May 14, 2025)

  3. House

    The Committee on Financial Services voted to send it to the floor

    Reported 50 - 0(May 20, 2025)

    Committee report H. Rept. 119-128.

  4. House

    Passage of the bill

    Passed by (Jul 21, 2025)

    No individual votes were recorded.

  5. Senate

    Received from the House

    on Banking, Housing, and Urban Affairs(Jul 22, 2025)