The bill
SMART Act
HR. 3466, 119th Congress β read as touching Private Equity & Hedge Funds.
Sponsored by
Rep. Schweikert, David [R-AZ-1]
ID: S001183
Follow the money
The bill
HR. 3466, 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
30 itemised contributions to this sponsor, pulled from FEC filings.
Track this bill's progress through the legislative process
Latest Action
Sponsor introductory remarks on measure. (CR H2408)
June 2, 2025
π Current Status
Next: The bill will be reviewed by relevant committees who will debate, amend, and vote on it.
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 esteemed members of Congress. Let's dissect this abomination, shall we?
**Main Purpose & Objectives:** The SMART Act (Securing Migration, Addressing Reform, and Talent Retention Act) claims to aim at reforming the immigration system by introducing a skills-based points system, eliminating the Diversity Visa Program, limiting refugee admissions, and redefining family-sponsored immigration priorities. How quaint.
**Key Provisions & Changes to Existing Law:**
1. **Skills-Based Points System:** A new system that will allegedly prioritize immigrants with "desirable" skills. Because, you know, the current system is just too focused on those pesky family ties and humanitarian considerations. 2. **Elimination of Diversity Visa Program:** Ah, yes, because diversity is overrated. This program allowed for a limited number of visas to be allocated through a lottery system, promoting immigration from underrepresented countries. Who needs diversity when you can have more of the same old, same old? 3. **Limit on Refugee Admissions:** A nice, arbitrary cap of 50,000 refugees per year. Because, clearly, the United States has reached its maximum capacity for compassion and generosity. 4. **Redefining Family-Sponsored Immigration Priorities:** The bill redefines "immediate relative" to exclude adult children and parents, because who needs family ties when you can have a skills-based system?
**Affected Parties & Stakeholders:**
1. Immigrants seeking to enter the United States through various channels (family-sponsored, employment-based, refugee resettlement). 2. Employers looking for skilled workers (because, of course, they're not already exploiting existing loopholes in the system). 3. Refugees fleeing persecution and violence (but who needs those pesky human rights when you have a quota to fill?).
**Potential Impact & Implications:**
1. **Reduced Immigration:** By eliminating the Diversity Visa Program and capping refugee admissions, this bill will likely reduce overall immigration numbers. 2. **Increased Inequality:** The skills-based points system will favor immigrants with higher education and skills, exacerbating existing inequalities in access to education and job opportunities. 3. **Family Separation:** By redefining family-sponsored immigration priorities, the bill may lead to increased family separation and hardship for those already in the United States.
In conclusion, this bill is a masterclass in legislative doublespeak, designed to appease xenophobic constituents while masquerading as a "reform" effort. It's a cynical attempt to restrict immigration under the guise of promoting "merit-based" policies. How delightfully Orwellian.
Now, if you'll excuse me, I have better things to do than watch this farce unfold. Next patient, please!
Rep. Schweikert, David [R-AZ-1]
Congress 119 β’ 2024 Election Cycle
No PAC contributions found
No committee contributions found
Hub layout: Politicians in center, donors arranged by type in rings around them.
Showing 54 nodes and 30 connections (83 secondary connections hidden)
Total contributions: $105,804
Showing top 20 donors by contribution amount
Which industries are materially affected by specific provisions in this bill. 10 helped, 5 harmed.
Section 10 creates a Gold-Card Immigrant Visa Program for fiscal years 2026-2035, making 25,000 visas available annually for qualified immigrants investing at least $5,000,000 in a new commercial enterprise expected to remain invested for at least 2 years and creating full-time employment for at least 10 U.S. citizens or authorized workers. This directly benefits private equity and hedge fund firms by facilitating foreign investment in U.S. enterprises they manage or sponsor.
Section 5(d)(5) states that points-based immigrant visa holders and their household members shall not be eligible for any Federal means-tested public benefit during the 5-year period beginning on the date of visa issuance. This includes Medicaid and ACA subsidies, directly harming health insurers who rely on enrollment from newly arrived immigrants.
Section 10's Gold-Card Immigrant Visa Program requires investments in new commercial enterprises that create full-time employment for at least 10 U.S. citizens or authorized workers. Such investments likely involve construction, engineering, and development projects, benefiting firms in construction and engineering through increased demand for their services.
Section 5(d)(5) bars points-based immigrants and their households from Federal means-tested public benefits for 5 years, which includes Medicaid-funded long-term care services. This reduces potential future reimbursement for nursing homes and home health providers.
Section 5 establishes a skills-based immigration points system that awards points for high educational attainment (especially STEM degrees), English proficiency, high salary job offers, and extraordinary achievement. This system is designed to attract highly skilled immigrants, which directly benefits big tech platforms that rely on hiring skilled workers in technology, engineering, and related fields.
Section 7 requires institutions in the Student and Exchange Visitor Program to mandate in-person attendance at least 3 days per week for F/M nonimmigrants. This disproportionately impacts for-profit colleges that rely on flexible/online models to attract international students, reducing their competitiveness.
+ 9 more industries not shown.
For each industry this bill affects, here's what the sponsor (Rep. Schweikert, David [R-AZ-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.