Stop Woke Investing Act

HR 52, the Stop Woke Investing Act, limits shareholder proposals on corporate proxy materials based on company size. Public companies must exclude proposals that do not have a "material" financial impact on the business, defined as directly affecting investment returns or risks. This excludes proposals focused on non-financial social, environmental, or political goals (like diversity initiatives or climate action) from being included in voting materials. The bill caps the number of proposals companies must include: 2 for small firms, 4 for mid-sized firms, and 7 for large firms, with companies deciding which proposals meet the financial impact requirement.