CLEAR Path Act

1) On November 18, 2025, Representative Pfluger (R-TX) introduced HR 6106, the CLEAR Path Act, which amends 18 U.S.C. §207 to impose a 2-year ban on Senate-confirmed officials representing any person or entity before their former executive branch agency, and a lifetime ban on representing foreign governments. The bill was referred to three committees (Foreign Affairs, Judiciary, Rules) and has only 1 cosponsor (Rep. Crow, D-CO). There have been zero subsequent actions: no hearings, no markup, no votes. The bill sits on the legislative shelf. 2) The bill authorizes ZERO dollars. It is a purely regulatory measure — it imposes new restrictions on former government officials but creates no spending program, no tax credit, no procurement fund. Authorization vs. appropriation is irrelevant here because there is no funding to be authorized. 3) Structural winners: None. No company or sector receives any direct benefit from extended cooling-off periods. Structural losers: Defense and technology contractors that frequently hire former Senate-confirmed officials from DoD, State, and intelligence agencies — specifically prime contractors like Lockheed ($LMT), RTX, and Palantir ($PLTR). The restriction marginally increases the cost and friction of hiring senior government talent. However, the dollar impact is tiny relative to these companies' revenues (e.g., $LMT's annual revenue exceeds $60B). 4) No real market data is provided for these tickers. Based on structural positioning, the impact is negligible. 5) Timeline: The bill remains in the House with no scheduled hearings. Even if it were marked up, the 119th Congress has only one more full session year (2026) before the 2026 midterm elections reset the legislative agenda. With 1 cosponsor and no committee chair backing, passage probability is below 5%.