To amend the Securities Exchange Act of 1934 to repeal certain disclosure requirements related to conflict minerals, and for other purposes.

HR7085 is a straightforward bill: it repeals subsection (p) of Section 13 of the Securities Exchange Act of 1934 and strikes Section 1502 of the Dodd-Frank Wall Street Reform and Consumer Protection Act. This eliminates the requirement for publicly traded companies to annually disclose whether their products contain tin, tungsten, tantalum, or gold (3TG minerals) sourced from the Democratic Republic of the Congo or adjoining countries, and whether those minerals are 'DRC conflict free.' There is no authorized funding — this is purely deregulatory, removing existing compliance costs rather than creating new spending programs. The money trail is clear: companies currently spend $3-12 million annually on third-party audits, internal compliance teams, and supply chain verification to meet Section 1502 requirements. Repeal eliminates those costs entirely for all covered companies. The mechanism is regulatory relief — no grants, tax credits, or direct spending. Affected companies simply stop incurring the cost of compliance. Structural winners are electronics manufacturers and automakers with complex global supply chains. Apple (AAPL), Microsoft (MSFT), and Dell (DELL) are the most directly impacted given their massive product portfolios and extensive supplier networks. Tesla (TSLA) benefits as both an electronics-intensive automaker and battery manufacturer. General Motors (GM) and Ford (F) benefit from reduced administrative burden on their procurement teams. HP Inc (HPQ) rounds out the electronics beneficiaries. Notably absent from the bill's relief: semiconductor pure-play companies like NVIDIA (NVDA) and AMD (AMD) are less affected because their products are primarily fabricated by foundries, putting the compliance burden on contract manufacturers like TSMC rather than fabless chip designers. Looking at real market data (April 30, 2026 closings), the affected stocks show mixed performance with no clear legislative catalyst. AAPL ($271.43) is up 6.95% in 30 days; MSFT ($402.51) is up 8.74% in 30 days but down 5.21% this week; TSLA ($370.22) is flat to slightly negative at -0.41% over 30 days; DELL ($201.91) has surged 23.01% over 30 days but is down 6.57% this week; HPQ ($20.11) is up 4.69% over 30 days; GM ($77.86) is up 4.51% over 30 days; and F ($11.83) is up 2.43% over 30 days but down 4.52% this week. The bill's committee passage on March 19, 2026, occurred during a period of generally positive market sentiment for these stocks, but the savings ($3-12M per company) are immaterial relative to revenue (Apple's are hundreds of billions). This is a cost-saving tailwind, not a revenue growth driver. Legislative timeline: the bill is on the Union Calendar (Calendar No. 481) meaning it's ready for floor consideration but no vote scheduled as of April 28, 2026. With a Republican majority in the House (119th Congress) and a party-line committee vote of 30-24, floor passage is likely if scheduled. Senate companion bill status is unknown — no Senate version was identified in the data. The current political environment for deregulatory measures is favorable under Republican control, but the 2026 midterm election calendar could create timing pressure for floor action before August recess.