Incentivizing New Ventures and Economic Strength Through Capital Formation Act of 2025

Key: what the circles and colors mean

Each circle is a bill. The ring fills as it moves through Congress:

IntroducedPassed one chamberPassed both chambersBecame law (gold)Resolution agreed to (full, dark)Failed or vetoed (gray)

Under the number: the Yea · Nay count of its final (or latest) recorded vote. On a member's page, the small badge is how that member voted: Y Yea / Aye, N Nay / No, P Present, – Not voting.

Gold and violet are only for Yea and Nay; they never mean a party. A member's party is the letter on their photo.

R WagnerSponsor

4 cosponsors · 3 D, 1 R

4 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.

House Introduced May 14, 2025
House Passed Dec 11, 2025 302–123

This bill allows a closed-end fund—a portfolio of pooled assets with a limited number of shares traded on an exchange—to increase its investment in private investment funds. Specifically, the Securities and Exchange Commission is prohibited from limiting the sale or listing of securities of a closed-end fund that invests in private investment funds.

Member	Party at vote	Seat	Position
Nicholas Begich	R	AK-AL	Aye
Barry Moore	R	AL-1	Aye
Shomari Figures	D	AL-2	Aye
Mike Rogers	R	AL-3	Aye
Robert Aderholt	R	AL-4	Aye
Dale Strong	R	AL-5	Aye
Gary Palmer	R	AL-6	Aye
Terri Sewell	D	AL-7	Aye
Rick Crawford	R	AR-1	Aye
J. Hill	R	AR-2	Aye
Steve Womack	R	AR-3	Aye
Bruce Westerman	R	AR-4	Aye
David Schweikert	R	AZ-1	Aye
Eli Crane	R	AZ-2	Aye
Yassamin Ansari	D	AZ-3	No
Greg Stanton	D	AZ-4	Aye
Andy Biggs	R	AZ-5	Aye
Juan Ciscomani	R	AZ-6	Aye
Adelita Grijalva	D	AZ-7	No
Abraham Hamadeh	R	AZ-8	Aye
Paul Gosar	R	AZ-9	Aye
Doug LaMalfa	R	CA-1	Aye
Mark DeSaulnier	D	CA-10	No
Nancy Pelosi	D	CA-11	No
Lateefah Simon	D	CA-12	No
Adam Gray	D	CA-13	Aye
Eric Swalwell	D	CA-14	Not Voting
Kevin Mullin	D	CA-15	Aye
Sam Liccardo	D	CA-16	Aye
Ro Khanna	D	CA-17	No
Zoe Lofgren	D	CA-18	Aye
Jimmy Panetta	D	CA-19	Aye
Jared Huffman	D	CA-2	No
Vince Fong	R	CA-20	Aye
Jim Costa	D	CA-21	Aye
David Valadao	R	CA-22	Aye
Jay Obernolte	R	CA-23	Aye
Salud Carbajal	D	CA-24	Aye
Raul Ruiz	D	CA-25	No
Julia Brownley	D	CA-26	No
George Whitesides	D	CA-27	Aye
Judy Chu	D	CA-28	No
Luz Rivas	D	CA-29	No
Kevin Kiley	R	CA-3	Aye
Laura Friedman	D	CA-30	No
Gilbert Cisneros	D	CA-31	No
Brad Sherman	D	CA-32	Aye
Pete Aguilar	D	CA-33	Aye
Jimmy Gomez	D	CA-34	No
Norma Torres	D	CA-35	No
Ted Lieu	D	CA-36	No
Sydney Kamlager-Dove	D	CA-37	No
Linda Sánchez	D	CA-38	Aye
Mark Takano	D	CA-39	No
Mike Thompson	D	CA-4	No
Young Kim	R	CA-40	Aye
Ken Calvert	R	CA-41	Aye
Robert Garcia	D	CA-42	No
Maxine Waters	D	CA-43	No
Nanette Barragán	D	CA-44	Aye
Derek Tran	D	CA-45	Aye
J. Correa	D	CA-46	No
Dave Min	D	CA-47	No
Darrell Issa	R	CA-48	Aye
Mike Levin	D	CA-49	Aye
Tom McClintock	R	CA-5	Aye
Scott Peters	D	CA-50	Aye
Sara Jacobs	D	CA-51	No
Juan Vargas	D	CA-52	No
Ami Bera	D	CA-6	Aye
Doris Matsui	D	CA-7	No
John Garamendi	D	CA-8	No
Josh Harder	D	CA-9	Aye
Diana DeGette	D	CO-1	No
Joe Neguse	D	CO-2	No
Jeff Hurd	R	CO-3	Aye
Lauren Boebert	R	CO-4	Aye
Jeff Crank	R	CO-5	Aye
Jason Crow	D	CO-6	No
Brittany Pettersen	D	CO-7	Aye
Gabe Evans	R	CO-8	Aye
John Larson	D	CT-1	No
Joe Courtney	D	CT-2	Aye
Rosa DeLauro	D	CT-3	No
Jim Himes	D	CT-4	Aye
Jahana Hayes	D	CT-5	No
Sarah McBride	D	DE-AL	Aye
Jimmy Patronis	R	FL-1	Aye
Maxwell Frost	D	FL-10	No
Daniel Webster	R	FL-11	Aye
Gus Bilirakis	R	FL-12	Aye
Anna Luna	R	FL-13	Aye
Kathy Castor	D	FL-14	No
Laurel Lee	R	FL-15	Aye
Vern Buchanan	R	FL-16	Aye
W. Steube	R	FL-17	Aye
C. Franklin	R	FL-18	Aye
Byron Donalds	R	FL-19	Not Voting
Neal Dunn	R	FL-2	Aye
Sheila Cherfilus-McCormick	D	FL-20	No
Brian Mast	R	FL-21	Aye
Lois Frankel	D	FL-22	No
Jared Moskowitz	D	FL-23	Aye
Frederica Wilson	D	FL-24	No
Debbie Wasserman Schultz	D	FL-25	Aye
Mario Diaz-Balart	R	FL-26	Aye
Maria Salazar	R	FL-27	Not Voting
Carlos Gimenez	R	FL-28	Not Voting
Kat Cammack	R	FL-3	Aye
Aaron Bean	R	FL-4	Aye
John Rutherford	R	FL-5	Not Voting
Randy Fine	R	FL-6	Aye
Cory Mills	R	FL-7	Aye
Mike Haridopolos	R	FL-8	Aye
Darren Soto	D	FL-9	Aye
Buddy Carter	R	GA-1	Aye
Mike Collins	R	GA-10	Aye
Barry Loudermilk	R	GA-11	Aye
Rick Allen	R	GA-12	Aye
David Scott	D	GA-13	Aye
Marjorie Greene	R	GA-14	Aye
Sanford Bishop	D	GA-2	No
Brian Jack	R	GA-3	Aye
Hank Johnson	D	GA-4	No
Nikema Williams	D	GA-5	No
Lucy McBath	D	GA-6	Aye
Rich McCormick	R	GA-7	Aye
Austin Scott	R	GA-8	Aye
Andrew Clyde	R	GA-9	Aye
Ed Case	D	HI-1	Aye
Jill Tokuda	D	HI-2	No
Mariannette Miller-Meeks	R	IA-1	Aye
Ashley Hinson	R	IA-2	Aye
Zachary (Zach) Nunn	R	IA-3	Aye
Randy Feenstra	R	IA-4	Aye
Russ Fulcher	R	ID-1	Aye
Mike Simpson	R	ID-2	Aye
Jonathan Jackson	D	IL-1	No
Brad Schneider	D	IL-10	Aye
Bill Foster	D	IL-11	Aye
Mike Bost	R	IL-12	Aye
Nicole (Nikki) Budzinski	D	IL-13	Aye
Lauren Underwood	D	IL-14	No
Mary Miller	R	IL-15	Aye
Darin LaHood	R	IL-16	Aye
Eric Sorensen	D	IL-17	Aye
Robin Kelly	D	IL-2	No
Delia Ramirez	D	IL-3	No
Chuy García	D	IL-4	No
Mike Quigley	D	IL-5	Aye
Sean Casten	D	IL-6	Aye
Danny Davis	D	IL-7	No
Raja Krishnamoorthi	D	IL-8	No
Jan Schakowsky	D	IL-9	No
Frank Mrvan	D	IN-1	Aye
Rudy Yakym	R	IN-2	Aye
Marlin Stutzman	R	IN-3	Aye
James Baird	R	IN-4	Aye
Victoria Spartz	R	IN-5	Aye
Jefferson Shreve	R	IN-6	Aye
André Carson	D	IN-7	No
Mark Messmer	R	IN-8	Aye
Erin Houchin	R	IN-9	Aye
Tracey Mann	R	KS-1	Aye
Derek Schmidt	R	KS-2	Aye
Sharice Davids	D	KS-3	Aye
Ron Estes	R	KS-4	Aye
James Comer	R	KY-1	Aye
Brett Guthrie	R	KY-2	Aye
Morgan McGarvey	D	KY-3	No
Thomas Massie	R	KY-4	Aye
Hal Rogers	R	KY-5	Aye
Andy Barr	R	KY-6	Aye
Steve Scalise	R	LA-1	Aye
Troy Carter	D	LA-2	No
Clay Higgins	R	LA-3	Aye
Mike Johnson	R	LA-4	Aye
Julia Letlow	R	LA-5	Aye
Cleo Fields	D	LA-6	No
Richard Neal	D	MA-1	No
Jim McGovern	D	MA-2	No
Lori Trahan	D	MA-3	Aye
Jake Auchincloss	D	MA-4	Aye
Katherine Clark	D	MA-5	No
Seth Moulton	D	MA-6	Aye
Ayanna Pressley	D	MA-7	No
Stephen Lynch	D	MA-8	No
William Keating	D	MA-9	No
Andy Harris	R	MD-1	Aye
Johnny Olszewski	D	MD-2	No
Sarah Elfreth	D	MD-3	No
Glenn Ivey	D	MD-4	No
Steny Hoyer	D	MD-5	No
April McClain Delaney	D	MD-6	No
Kweisi Mfume	D	MD-7	No
Jamie Raskin	D	MD-8	No
Chellie Pingree	D	ME-1	No
Jared Golden	D	ME-2	No
Jack Bergman	R	MI-1	Aye
John James	R	MI-10	Aye
Haley Stevens	D	MI-11	Aye
Rashida Tlaib	D	MI-12	No
Shri Thanedar	D	MI-13	Aye
John Moolenaar	R	MI-2	Aye
Hillary Scholten	D	MI-3	Aye
Bill Huizenga	R	MI-4	Aye
Tim Walberg	R	MI-5	Aye
Debbie Dingell	D	MI-6	No
Tom Barrett	R	MI-7	Aye
Kristen McDonald Rivet	D	MI-8	Aye
Lisa McClain	R	MI-9	Aye
Brad Finstad	R	MN-1	Aye
Angie Craig	D	MN-2	Aye
Kelly Morrison	D	MN-3	Aye
Betty McCollum	D	MN-4	No
Ilhan Omar	D	MN-5	No
Tom Emmer	R	MN-6	Aye
Michelle Fischbach	R	MN-7	Aye
Pete Stauber	R	MN-8	Aye
Wesley Bell	D	MO-1	Aye
Ann Wagner	R	MO-2	Aye
Robert Onder	R	MO-3	Aye
Mark Alford	R	MO-4	Aye
Emanuel Cleaver	D	MO-5	No
Sam Graves	R	MO-6	Aye
Eric Burlison	R	MO-7	Aye
Jason Smith	R	MO-8	Aye
Trent Kelly	R	MS-1	Aye
Bennie Thompson	D	MS-2	No
Michael Guest	R	MS-3	Aye
Mike Ezell	R	MS-4	Aye
Ryan Zinke	R	MT-1	Aye
Troy Downing	R	MT-2	Aye
Donald Davis	D	NC-1	Aye
Pat Harrigan	R	NC-10	Aye
Charles (Chuck) Edwards	R	NC-11	Aye
Alma Adams	D	NC-12	No
Brad Knott	R	NC-13	Aye
Tim Moore	R	NC-14	Aye
Deborah Ross	D	NC-2	Aye
Gregory Murphy	R	NC-3	Aye
Valerie Foushee	D	NC-4	No
Virginia Foxx	R	NC-5	Aye
Addison McDowell	R	NC-6	Aye
David Rouzer	R	NC-7	Aye
Mark Harris	R	NC-8	Aye
Richard Hudson	R	NC-9	Aye
Julie Fedorchak	R	ND-AL	Aye
Mike Flood	R	NE-1	Aye
Don Bacon	R	NE-2	Aye
Adrian Smith	R	NE-3	Aye
Chris Pappas	D	NH-1	Aye
Maggie Goodlander	D	NH-2	Aye
Donald Norcross	D	NJ-1	Aye
LaMonica McIver	D	NJ-10	No
Bonnie Watson Coleman	D	NJ-12	No
Jefferson Van Drew	R	NJ-2	Aye
Herbert Conaway	D	NJ-3	Aye
Chris Smith	R	NJ-4	Aye
Josh Gottheimer	D	NJ-5	Aye
Frank Pallone	D	NJ-6	No
Thomas Kean	R	NJ-7	Aye
Robert Menendez	D	NJ-8	No
Nellie Pou	D	NJ-9	Aye
Melanie Stansbury	D	NM-1	No
Gabriel (Gabe) Vasquez	D	NM-2	Aye
Teresa Leger Fernandez	D	NM-3	No
Dina Titus	D	NV-1	No
Mark Amodei	R	NV-2	Aye
Susie Lee	D	NV-3	Aye
Steven Horsford	D	NV-4	Aye
Nicolas LaLota	R	NY-1	Aye
Dan Goldman	D	NY-10	No
Nicole Malliotakis	R	NY-11	Aye
Jerrold Nadler	D	NY-12	Not Voting
Adriano Espaillat	D	NY-13	No
Alexandria Ocasio-Cortez	D	NY-14	No
Ritchie Torres	D	NY-15	Aye
George Latimer	D	NY-16	Aye
Michael Lawler	R	NY-17	Aye
Patrick Ryan	D	NY-18	Aye
Josh Riley	D	NY-19	Aye
Andrew Garbarino	R	NY-2	Aye
Paul Tonko	D	NY-20	No
Elise Stefanik	R	NY-21	Aye
John Mannion	D	NY-22	Aye
Nicholas Langworthy	R	NY-23	Aye
Claudia Tenney	R	NY-24	Aye
Joseph Morelle	D	NY-25	Aye
Timothy Kennedy	D	NY-26	No
Thomas Suozzi	D	NY-3	Aye
Laura Gillen	D	NY-4	Not Voting
Gregory Meeks	D	NY-5	Aye
Grace Meng	D	NY-6	No
Nydia Velázquez	D	NY-7	No
Hakeem Jeffries	D	NY-8	No
Yvette Clarke	D	NY-9	No
Greg Landsman	D	OH-1	No
Michael Turner	R	OH-10	Aye
Shontel Brown	D	OH-11	No
Troy Balderson	R	OH-12	Aye
Emilia Sykes	D	OH-13	No
David Joyce	R	OH-14	Aye
Mike Carey	R	OH-15	Aye
David Taylor	R	OH-2	Aye
Joyce Beatty	D	OH-3	No
Jim Jordan	R	OH-4	Aye
Robert Latta	R	OH-5	Aye
Michael Rulli	R	OH-6	Aye
Max Miller	R	OH-7	Aye
Warren Davidson	R	OH-8	Aye
Marcy Kaptur	D	OH-9	No
Kevin Hern	R	OK-1	Aye
Josh Brecheen	R	OK-2	Aye
Frank Lucas	R	OK-3	Aye
Tom Cole	R	OK-4	Aye
Stephanie Bice	R	OK-5	Aye
Suzanne Bonamici	D	OR-1	No
Cliff Bentz	R	OR-2	Aye
Maxine Dexter	D	OR-3	No
Valerie Hoyle	D	OR-4	No
Janelle Bynum	D	OR-5	Aye
Andrea Salinas	D	OR-6	Aye
Brian Fitzpatrick	R	PA-1	Aye
Scott Perry	R	PA-10	Aye
Lloyd Smucker	R	PA-11	Aye
Summer Lee	D	PA-12	No
John Joyce	R	PA-13	Aye
Guy Reschenthaler	R	PA-14	Aye
Glenn Thompson	R	PA-15	Aye
Mike Kelly	R	PA-16	Aye
Chris Deluzio	D	PA-17	No
Brendan Boyle	D	PA-2	Aye
Dwight Evans	D	PA-3	No
Madeleine Dean	D	PA-4	Aye
Mary Scanlon	D	PA-5	No
Chrissy Houlahan	D	PA-6	Aye
Ryan Mackenzie	R	PA-7	Aye
Robert Bresnahan	R	PA-8	Aye
Daniel Meuser	R	PA-9	Aye
Gabe Amo	D	RI-1	No
Seth Magaziner	D	RI-2	No
Nancy Mace	R	SC-1	Aye
Joe Wilson	R	SC-2	Aye
Sheri Biggs	R	SC-3	Aye
William Timmons	R	SC-4	Aye
Ralph Norman	R	SC-5	Aye
Jim Clyburn	D	SC-6	No
Russell Fry	R	SC-7	Aye
Dusty Johnson	R	SD-AL	Aye
Diana Harshbarger	R	TN-1	Aye
Tim Burchett	R	TN-2	Aye
Chuck Fleischmann	R	TN-3	Aye
Scott DesJarlais	R	TN-4	Aye
Andrew Ogles	R	TN-5	Aye
John Rose	R	TN-6	Aye
Matt Van Epps	R	TN-7	Aye
David Kustoff	R	TN-8	Aye
Steve Cohen	D	TN-9	No
Nathaniel Moran	R	TX-1	Aye
Michael McCaul	R	TX-10	Not Voting
August Pfluger	R	TX-11	Aye
Craig Goldman	R	TX-12	Aye
Ronny Jackson	R	TX-13	Aye
Randy Weber	R	TX-14	Aye
Mónica De La Cruz	R	TX-15	Aye
Veronica Escobar	D	TX-16	No
Pete Sessions	R	TX-17	Aye
Jodey Arrington	R	TX-19	Aye
Dan Crenshaw	R	TX-2	Aye
Joaquin Castro	D	TX-20	No
Chip Roy	R	TX-21	Aye
Troy Nehls	R	TX-22	Aye
Tony Gonzales	R	TX-23	Aye
Beth Van Duyne	R	TX-24	Aye
Roger Williams	R	TX-25	Aye
Brandon Gill	R	TX-26	Aye
Michael Cloud	R	TX-27	Aye
Henry Cuellar	D	TX-28	Aye
Sylvia Garcia	D	TX-29	No
Keith Self	R	TX-3	Aye
Jasmine Crockett	D	TX-30	No
John Carter	R	TX-31	Aye
Julie Johnson	D	TX-32	Aye
Marc Veasey	D	TX-33	Aye
Vicente Gonzalez	D	TX-34	Aye
Gregorio Casar	D	TX-35	No
Brian Babin	R	TX-36	Aye
Lloyd Doggett	D	TX-37	No
Wesley Hunt	R	TX-38	Aye
Pat Fallon	R	TX-4	Aye
Lance Gooden	R	TX-5	Aye
Jake Ellzey	R	TX-6	Aye
Lizzie Fletcher	D	TX-7	Aye
Morgan Luttrell	R	TX-8	Aye
Al Green	D	TX-9	No
Blake Moore	R	UT-1	Aye
Celeste Maloy	R	UT-2	Aye
Mike Kennedy	R	UT-3	Aye
Burgess Owens	R	UT-4	Aye
Robert Wittman	R	VA-1	Aye
Suhas Subramanyam	D	VA-10	Aye
James Walkinshaw	D	VA-11	Aye
Jennifer Kiggans	R	VA-2	Aye
Bobby Scott	D	VA-3	No
Jennifer McClellan	D	VA-4	No
John McGuire	R	VA-5	Aye
Ben Cline	R	VA-6	Aye
Eugene Vindman	D	VA-7	Aye
Donald Beyer	D	VA-8	Aye
H. Griffith	R	VA-9	Aye
Becca Balint	D	VT-AL	No
Suzan DelBene	D	WA-1	Aye
Marilyn Strickland	D	WA-10	Aye
Rick Larsen	D	WA-2	Aye
Marie Gluesenkamp Perez	D	WA-3	No
Dan Newhouse	R	WA-4	Aye
Michael Baumgartner	R	WA-5	Aye
Emily Randall	D	WA-6	No
Pramila Jayapal	D	WA-7	No
Kim Schrier	D	WA-8	Aye
Adam Smith	D	WA-9	Aye
Bryan Steil	R	WI-1	Aye
Mark Pocan	D	WI-2	No
Derrick Van Orden	R	WI-3	Aye
Gwen Moore	D	WI-4	Aye
Scott Fitzgerald	R	WI-5	Aye
Glenn Grothman	R	WI-6	Aye
Thomas Tiffany	R	WI-7	Aye
Tony Wied	R	WI-8	Aye
Carol Miller	R	WV-1	Aye
Riley Moore	R	WV-2	Aye
Harriet Hageman	R	WY-AL	Aye

Incentivizing New Ventures and Economic Strength Through Capital Formation Act of 2025

Votes to become law

Final vote · House · Dec 11, 2025