The bill
GOOD Act
HR. 1515, 119th Congress β read as touching Private Equity & Hedge Funds.
Sponsored by
Rep. Comer, James [R-KY-1]
ID: C001108
Follow the money
The bill
HR. 1515, 119th Congress β read as touching Private Equity & Hedge Funds.
The sponsor
Every bill has someone who introduced it. That name is where the paper trail starts.
The money
21 itemised contributions to this sponsor, pulled from FEC filings.
Track this bill's progress through the legislative process
Latest Action
Received in the Senate and Read twice and referred to the Committee on Homeland Security and Governmental Affairs.
March 3, 2025
π Current Status
Next: Both chambers must agree on the same version of the bill.
1. Introduction: A member of Congress introduces a bill in either the House or Senate.
2. Committee Review: The bill is sent to relevant committees for study, hearings, and revisions.
3. Floor Action: If approved by committee, the bill goes to the full chamber for debate and voting.
4. Other Chamber: If passed, the bill moves to the other chamber (House or Senate) for the same process.
5. Conference: If both chambers pass different versions, a conference committee reconciles the differences.
6. Presidential Action: The President can sign the bill into law, veto it, or take no action.
7. Became Law: If signed (or if Congress overrides a veto), the bill becomes law!
Another masterpiece of legislative theater, courtesy of the 119th Congress. The GOOD Act (Guidance Out Of Darkness Act), because who doesn't love a good acronym? This bill is a shining example of how politicians can take a simple concept and turn it into a bloated, convoluted mess.
**Main Purpose & Objectives:** The stated purpose of this bill is to increase access to agency guidance documents. Because, apparently, the current system of hiding these documents in obscure corners of government websites was just too transparent for our elected officials' taste. The real objective here is to create a centralized repository for these documents, making it slightly easier for citizens to find them. Wow, what a bold move.
**Key Provisions & Changes to Existing Law:** The bill requires agencies to publish their guidance documents in a single location on the internet (Section 3) and creates a new website for this purpose (Section 4). It also establishes a timeline for agencies to publish previously issued guidance documents (180 days, because who needs urgency when it comes to transparency?). The bill includes exemptions for documents already protected under FOIA (Section 5), because some secrets are just too precious to share.
**Affected Parties & Stakeholders:** The usual suspects: government agencies, citizens seeking information, and the occasional lobbyist trying to influence policy through "guidance" rather than actual legislation. Oh, and let's not forget the Comptroller General, who gets to write a report on agency compliance five years from now (Section 8). I'm sure that will be a thrilling read.
**Potential Impact & Implications:** This bill is a Band-Aid solution for a much deeper problem: the lack of transparency and accountability in government. By creating a centralized repository, Congress thinks it's addressing the issue, but really, it's just moving the deck chairs on the Titanic. The real disease here is the culture of secrecy and obfuscation that pervades our government.
In conclusion, the GOOD Act is a classic case of "legislative placebo": it looks like something meaningful, but ultimately accomplishes very little. It's a symptom of a larger problem β the inability of our politicians to tackle real issues with substance and honesty. So, let's all just take a deep breath, pretend this bill will make a difference, and move on to the next piece of legislative theater.
Rep. Comer, James [R-KY-1]
Congress 119 β’ 2024 Election Cycle
No PAC contributions found
No committee contributions found
This bill has 3 cosponsors. Below are their top campaign contributors.
ID: K000389
Top Contributors
10
ID: K000401
Top Contributors
10
ID: M001213
Top Contributors
10
Hub layout: Politicians in center, donors arranged by type in rings around them.
Showing 65 nodes and 30 connections (53 secondary connections hidden)
Total contributions: $178,240
Showing top 18 donors by contribution amount
Which industries are materially affected by specific provisions in this bill. 3 helped.
Section 3 and Section 4 imply increased transparency for agency guidance documents, which could benefit private equity and hedge funds by providing clearer regulatory guidelines, thus potentially reducing compliance costs and increasing investment opportunities.
The requirement for agencies to publish guidance documents in a single location on the internet (Section 4) may benefit big tech platforms by making it easier for them to access and comply with regulatory guidance, potentially reducing their legal and compliance expenses.
Increased transparency and accessibility of agency guidance documents (as outlined in Sections 3 and 4) could help commercial banks better understand regulatory expectations, potentially lowering their compliance costs and risk of non-compliance.
For each industry this bill affects, here's what the sponsor (Rep. Comer, James [R-KY-1])received from donors associated with that industry during the 2022βpresent cycles. Donations are not proof of intent β they are a record of who funds the people writing the law.
Providing for consideration of the joint resolution (S.J. Res. 18) disapproving the rule submitted by the Bureau of Consumer Financial Protection relating to "Overdraft Lending: Very Large Financial Institutions''; providing for consideration of the joint resolution (S.J. Res. 28) disapproving the rule submitted by the Bureau of Consumer Financial Protection relating to ''Defining Larger Participants of a Market for General-Use Digital Consumer Payment Applications''; providing for consideration of the bill (H.R. 1526) to amend title 28, United States Code, to limit the authority of district courts to provide injunctive relief, and for other purposes; providing for consideration of the bill (H.R. 22) to amend the National Voter Registration Act of 1993 to require proof of United States citizenship to register an individual to vote in elections for Federal office, and for other purposes; and for other purposes.
Taxpayer Funds Oversight and Accountability Act
A resolution to constitute the majority party's membership on certain committees for the One Hundred Nineteenth Congress, or until their successors are chosen.