Prohibit public companies from repurchasing their shares on the open market.

Val T. Hoyle · Oregon · Democratic

policy impact 0.55 specificity 0.90 extraction confidence 91%

Commitment kind: unknown. Promised action: not established. Promised outcome: not established. Deadline: unknown; not assumed expired.

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Occurrences

Mr. García of Illinois (for himself, Mr. Khanna, and Ms. Hoyle of Oregon) introduced the following bill; which was referred to the Committee on Financial Services

Hoyle is listed as a House cosponsor of the Reward Work Act, which would prohibit public companies from repurchasing their shares on the open market.

H.R. 8612 (IH) - Reward Work Act - BILLS-119hr8612ih | Content Details | GovInfo
primary · other · model gpt-5.4-mini

Evidence

legacy_unverified · Source version not recorded · locator unknown

GovInfo lists H.R. 8612 as the Reward Work Act in the 119th Congress, with the full title to prohibit public companies from repurchasing shares on the open market. The last action listed is April 30, 2026: Rep. García introduced it for himself, Rep. Khanna, and Rep. Hoyle, and it was referred to the House Committee on Financial Services. The bill version is Introduced in House.

Unverified model/legacy excerpt; not proof. AI summary (separate from source): Latest official bill record found after checking the August 18-20, 2026 lookback window shows no delivery event; Hoyle has taken concrete legislative action, but the measure remains only introduced/referred, so the commitment is still unresolved rather than delivered.

unresolved later_term A for effort

H.R. 8612 (IH) - Reward Work Act - BILLS-119hr8612ih | Content Details | GovInfo
primary · model gpt-5.5 · confidence 94%

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legacy_unverified · Source version not recorded · locator unknown

SEC staff guidance describes Rule 10b-18 as a voluntary safe harbor for issuer repurchases when an issuer or affiliated purchaser bids for or purchases the issuer's common stock under specified manner, timing, price, and volume conditions. It also says the safe harbor applies to open-market purchases of common stock.

Unverified model/legacy excerpt; not proof. AI summary (separate from source): The underlying SEC repurchase safe-harbor framework still exists in official agency guidance, which supports that open-market buybacks have not been prohibited by the promised policy as of this refresh.

unresolved unknown

SEC Division of Trading and Markets: Answers to Frequently Asked Questions Concerning Rule 10b-18
secondary · model gpt-5.5 · confidence 86%

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Assessments

Public state: unverified As of unknown · legacy_unverified · . Original AI recommendation (not independently established): unresolved. later_term A for effort

The promised federal outcome has not been enacted. H.R. 8612, the Reward Work Act, would prohibit public companies from repurchasing shares on the open market, and Hoyle is listed among the introducing members/cosponsors in the 119th Congress. But the bill remains introduced and referred to the House Financial Services Committee, with no House passage, Senate passage, enactment, or equivalent SEC rule eliminating open-market buybacks. Because Hoyle materially advanced matching legislation while still in office, this warrants an effort badge, but not delivery.

provider codex_cli · model gpt-5.5 · confidence 94%