A bill to promote human rights, internet freedom and accountability in Iran, and for other purposes.

Senator McCormick (R-PA) introduced S. 3900 on February 24, 2026. It was read twice and referred to the Senate Foreign Relations Committee. The bill is at the earliest legislative stage with no further action in nearly four months, indicating very low momentum.

The bill text is predominantly findings and statements of policy. There is no authorization for new spending, no procurement directive, and no regulatory mechanism that directly or indirectly impacts U.S. corporations. Authorization bills set policy ceilings; this one does not even authorize a ceiling—it contains no dollar amount at all.

Structural winners and losers: None identifiable. The bill's provisions, if enacted, would direct diplomatic and informational actions by the State Department and USAID. No public U.S. company is named in the text. Internet freedom tools and circumvention technologies might conceptually be involved, but the bill does not mandate any specific technology procurement or funding for such tools. Pure-play internet freedom companies (e.g., $PSPH, private; no public pure-play) are not listed on major exchanges.

No real market data was provided for this transaction. Even if it were, the bill's procedural state and lack of funding make market impact negligible.

Timeline: The bill must pass the Senate Foreign Relations Committee, be reported to the floor, pass the Senate, pass the House, and be signed by the President. Given the current state (referred, no hearings), passage in the 119th Congress is highly unlikely. Nearly identical Iran-related symbolic resolutions have been introduced and stalled in prior sessions.