INVEST Act

119th Congress Introduced by Jon Husted

The bill would require federal agencies to liquidate all identified covered equity investments in private firms within 8 years and send the proceeds to the Treasury to reduce the n

Introduced in Senate

Summary of S. 4798 – INVEST Act (Investing in National Values, Economy, Strategy, and Tomorrow Act)

Purpose and intent

The bill would require the liquidation of federal government equity stakes in privately held, for-profit companies to reduce the national debt.

It establishes a mandatory timeline for liquidation and directs the proceeds to be deposited in the Treasury to pay down the debt.

Key provisions and changes

Definition of covered equity investment (Section 2, subsection (b))

Includes:
Shares of common or preferred stock.
Economic, partnership, or membership interests.
Warrants, options, or other rights to acquire such interests (whether exercisable now or later).
Golden shares or other instruments granting special governance rights (board seats, veto rights, etc.).
Contractual rights to require IPOs, spin-offs, or similar transactions intended to obtain ownership interests.

Identification (Section 2, subsection (a))

Each federal agency must identify all covered equity investments in privately owned, for-profit companies that it holds.

Liquidation timeline (Section 2, subsection (c))

For investments held as of the date of enactment: liquidate all identified covered equity investments no later than 8 years after enactment.
For investments acquired after enactment: liquidate within 8 years after the date the investment was acquired.

Use of proceeds (Section 2, subsection (d))

All funds recovered from liquidation must be transmitted to the U.S. Treasury to be used for paying down the national debt.

Administrative and jurisdictional notes

Introduced in the Senate by Senator Husted on June 16, 2026.
Referenced to the Committee on Homeland Security and Governmental Affairs.

Who/what is affected

Federal agencies that hold equity investments in privately owned companies categorized as “covered equity investments.”

Covered equity investments themselves, including various forms of equity, rights, and governance-related instruments described in the bill.

U.S. Treasury/National debt as the designated recipient of liquidation proceeds to reduce the federal debt.

Procedural and timeline considerations

The bill sets a hard, maximum liquidation horizon of 8 years from enactment for existing holdings and from acquisition for future holdings.

It imposes an ongoing obligation on agencies to identify and liquidate these investments, creating potential administrative and market-impact considerations for the affected assets.

Funds from liquidations would bypass discretionary spending and flow directly to debt reduction.

Potential implications and considerations (non-binding, analytical)

Financial impact: The sale of government equity could influence market prices for certain assets and affect private sector investors holding or seeking similar stakes.

Debt reduction: Provides a mechanism for debt paydown, but the total impact depends on the value and liquidity of the identified investments at liquidation.

Governance and policy: Agencies would need processes to inventory, value, and execute liquidations, potentially affecting innovation investments and public-private partnerships.

Note: The bill is at the introductory stage and would require passage by both chambers and signature to become law.