SCOPE Act of 2026
Summary
The SCOPE Act of 2026 (S.3928) is an early-stage bill at the referral-to-committee phase with zero authorized funding. It requires only a study and publication of guidance by the EPA—no mandate, no spending, no compliance deadline. There is zero direct market impact today for any public company.
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Key Takeaways
- 1.Zero funding authorized — no money changes hands.
- 2.Only requires a study and guidance publication; no compliance mandate exists yet.
- 3.Identical companion bill exists (HR7684) but both are stalled in committee since February 2026.
- 4.No market impact today. Revisit only if the bill advances to a committee markup with amendments.
Market Implications
No market implications exist today. The SCOPE Act is a procedural placeholder. Retail investors should ignore this bill until it reaches a committee markup, receives a Congressional Budget Office score, or gains co-sponsors beyond the primary sponsor. No ticker should be bought or sold based on this filing.
Full Analysis
- What happened: On 2026-02-26, Senator Schiff (D-CA) introduced S.3928, the SCOPE Act of 2026, which directs the EPA to study and publish guidance on Scope 3 emissions reporting. The bill was read twice and referred to the Senate Committee on Environment and Public Works. An identical companion bill, HR7684, was introduced in the House and referred to the Energy and Commerce Committee. Both bills are at the earliest procedural stage with no further action in over two months. 2) The money trail: The bill authorizes zero funding. It contains no appropriation, no tax credit, no grant program, and no penalty. Until the EPA completes its study and publishes guidance—a process that typically takes 12–24 months even with full political support—no regulated entity has any new obligation. Authorization bills without appropriation have no direct cash flow impact. 3) Structural winners and losers: There are none at this stage. Scope 3 reporting guidance, if finalized, would eventually affect large public companies with complex supply chains (e.g., $AMZN, $WMT, $AAPL) and the software firms that provide carbon accounting tools (e.g., $WSC, $SPGI). However, this bill is so early in the legislative process that no company faces any current compliance cost or revenue opportunity. 4) No real market data is provided for this bill, and none exists—the bill has produced zero market reactions since introduction. 5) Timeline: The bill must pass the Senate Environment and Public Works Committee, then the full Senate, then the companion bill must pass the House Energy and Commerce Committee and full House, then a conference committee, then the President must sign it. Given zero funding and the current early stage, the probability of passage is very low in the 119th Congress. Even if enacted, the EPA would then need 18–24 months to publish guidance.
Connected Signals
Matched on shared policy language across AI analyses, with ticker & timing weight
Growing and Preserving Innovation in America Act of 2025
American Innovation and R&D Competitiveness Act of 2025
Price Gouging Prevention Act of 2025
Antitrust Freedom Act of 2026
FOUR POINTS TECHNOLOGY, L.L.C.: $150M Social Security Administration Contract
DELOITTE & TOUCHE LLP: $66.8M Department of Veterans Affairs Contract
To expand the sharing of information with respect to suspected violations of intellectual property rights in trade.
OPTUM PUBLIC SECTOR SOLUTIONS, INC.: $895M Department of Veterans Affairs Contract
Related Presidential Actions
Executive orders & memoranda affecting the same sectors or companies
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This Presidential Memorandum directs the U.S. Trade Representative to impose Section 301 tariffs on imports from 60 economies due to their failure to prohibit or effectively enforce forced labor import bans. Tariffs are set at 10% ad valorem for certain economies with partial enforcement or commitments, and 12.5% for others, with exemptions for raw materials and products causing domestic supply issues, and plans for textile tariff-rate quotas by September 2026. The action aims to eliminate the identified unreasonable trade practices through these tariffs and incentives.
Ushering in the Next Frontier of Quantum Innovation
This executive order updates the National Quantum Strategy and establishes a national effort (QC-ADDS) to develop a quantum computer for scientific discovery, with deployment at a Department of Energy facility. It directs multiple agencies to prioritize quantum sensing, networking, and supply chain initiatives, and mandates plans for commercial readiness and national security applications.
Strengthening Customs Enforcement
This executive order directs the Secretary of Homeland Security to revise customs enforcement regulations within 180 days, requiring importers of record (IORs) to maintain minimum tangible domestic assets or bonding, disclose ownership and business affiliations, and maintain good standing with CBP. It prohibits foreign IORs from filing informal entries for low-value articles and imposes additional bonding and CTPAT validation requirements for foreign IORs on formal entries, aiming to enhance compliance and revenue collection.
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