H.R. 2988 – Protecting Prudent Investment of Retirement Savings Act
H.R. 2988 - Protecting Prudent Investment of Retirement Savings Act
Hearing Information
Amendment Deadline
Friday, January 9, 2026 - 11:00am View Announcement »
Meeting Announcement
Monday, January 12, 2026 - 4:00pm H-313, The Capitol View Announcement »
Video
Bill Text
(as reported)
H. Rept. 119-421 PDF
Report from the Committee on the Education and Workforce to accompany H.R. 2988
Hearing Documents
Rule PDF
H. Rept. 119-440 PDF
Rule Information
COMMITTEE ACTION:
REPORTED BY A RECORD VOTE of 8-3 on January, 12, 2026.
FLOOR ACTION ON H. RES. 988:
Agreed to by a record vote of 214 - 207, after agreeing to the previous question by a record vote of 206-205, on Wednesday, January 7, 2026.
MANAGERS: Fischbach/Leger Fernández
1. Structured rule for H.R. 2988.
2. Waives all points of order against consideration of the bill.
3.Provides that the amendment in the nature of a substitute recommended by the Committee on Education and Workforce now printed in the bill shall be considered as adopted and the bill, as amended, shall be considered as read.
4. Waives all points of order against provisions in the bill, as amended.
5. Provides one hour of general debate equally divided and controlled by the chair and ranking minority member of the Committee on Education and Workforce or their respective designees.
6. Makes in order only the further amendment printed in part A of the Rules Committee report. Each amendment shall be considered only in the order printed in the report, may be offered only by a Member designated in the report, shall be considered as read, shall be debatable for the time specified in the report equally divided and controlled by the proponent and an opponent, shall not be subject to amendment, and shall not be subject to a demand for division of the question.
7. Waives all points of order against the further amendment printed in part A of the Rules Committee report.
8. Provides one motion to recommit.
9. Closed rule for H.R. 2262.
10. Waives all points of order against consideration of the bill.
11. Provides that the amendment in the nature of a substitute recommended by the Committee on Education and Workforce now printed in the bill,
modified by the amendment printed in part B of the Rules Committee report, shall be considered as adopted and the bill, as amended, shall be considered as read.
12. Waives all points of order against provisions in the bill, as amended.
13. Provides one hour of general debate equally divided and controlled by the chair and ranking minority member of the Committee on Education and Workforce or their respective designees.
14. Provides one motion to recommit.
15. Closed rules for H.R. 2270, H.R. 2312, and H.R. 4366.
16. Waives all points of order against consideration of each such bill.
17. Provides that the respective amendments in the nature of a substitute recommended by the Committee on Education and Workforce now printed in each such bill shall be considered as adopted and each such bill, as amended, shall be considered as read.
18. Waives all points of order against provisions in each such bill, as amended.
19. Provides one hour of general debate on each such bill equally divided and controlled by the chair and ranking minority member of the Committee on Education and Workforce or their respective designees.
20. Provides each such bill one motion to recommit.
Amendments (click each header to sort table ▲▼ by that column)
| # | Version # | Sponsor(s) | Party | Summary | Status |
|---|---|---|---|---|---|
| 1 | Version 1 | DeSaulnier (CA) | Democrat | Allows plan fiduciaries to consider ESG investments while ensuring they do not sacrifice investment returns and upholding core ERISA protections. | Submitted |
| 2 | Version 1 | Houlahan (PA), Magaziner (RI) | Democrat | Adds the Sense of Congress that the federal government should not direct investment choices and that fiduciaries should retain discretion to consider all relevant financial risks when making investment decisions provided such risks bear on the economic outcomes of the investments. | Submitted |
| 3 | Version 1 | Houlahan (PA), Magaziner (RI) | Democrat | Ensures that financially material climate-related risks, such as the economic impacts of extreme weather and climate change, may qualify as “pecuniary factors” under ERISA, and that fiduciaries may consider them, case by case, to the extent they reasonably affect an investment’s risk-return profile. | Submitted |
| 4 | Version 2 | Huizenga (MI) | Republican | Revised Requires GAO to publish a study on brokerage accounts. | Made in Order |
| 5 | Version 1 | Casten (IL), Vargas (CA) | Democrat | SUBSTITUTE Late Gives workplace retirement plans the freedom to consider environmental, social, and governance (ESG) factors in their investment decisions or offer ESG investment options. | Submitted |
Committee Votes
Rules Committee Record Vote No. 229
Motion by Mr. McGovern to add a new section to the rule to direct members of the Republican Conference’s Tariff Policy Working Group to conduct an in-person, bipartisan briefing open to all House Members no later than this Friday, January 16, 2026. Such a briefing shall cover any efforts by the Working Group so far, including any meetings held, any recommendations related to the President’s current tariff regime and use of emergency authorities to impose such tariffs, and any future plans by the Working Group.
Rules Committee Record Vote No. 230
Motion by Mr. McGovern to make in order amendment #1 to H.R. 2988, offered by Representative DeSaulnier, which would allow plan fiduciaries to consider ESG investments while ensuring they do not sacrifice investment returns and upholding core investor protections.
Rules Committee Record Vote No. 231
Motion by Mrs. Fischbach to report the rule.