To prohibit entities integral to the national interests of the United States from participating in any foreign sustainability due diligence regulation, including the Corporate Sustainability Due Diligence Directive of the European Union, and for other purposes.

On June 22, 2026, Rep. Fitzgerald (R-WI-5) introduced HR9385, a bill that would ban entities deemed 'integral to the national interests of the United States' from participating in foreign sustainability due diligence regulations, specifically citing the EU's Corporate Sustainability Due Diligence Directive (CSDDD). The bill has been referred to both the House Energy and Commerce and Judiciary Committees. As of June 23, 2026, no hearings, markups, or committee votes have occurred. The bill is at the earliest possible legislative stage.

The bill authorizes ZERO funding. It is a pure prohibition measure — it does not create any spending program, tax credit, grant, or penalty. There is no money trail to follow because no dollars are authorized or appropriated. The bill would, if enacted, create a legal conflict between U.S. law and EU regulatory requirements, but actual enforcement would require subsequent legislation or executive action.

Structural winners and losers: There are no clear winners or losers from this bill in its current form. The affected tickers are major integrated energy companies with EU exposure — (ExxonMobil, $344.6B revenue), (Chevron, $196.9B revenue), and $COP (ConocoPhillips, $48.5B revenue) — but the bill contains no penalties for non-compliance with the prohibition. Without enforcement, the practical effect is political signaling. The EU CSDDD itself imposes due diligence obligations on companies with EU operations; a U.S. blocking statute could create legal uncertainty, but compliance risks for these firms are already material under EU law, and the U.S. prohibition provides no financial offset.

Real market data: No real market data was provided for stock prices. However, the bill's negligible market impact is confirmed by its early stage, lack of co-sponsors, lack of funding, and referral to two committees — a typical procedural step that stalls most introduced bills.

Timeline: The bill's path requires committee hearings and votes in both Energy & Commerce and Judiciary, followed by House floor consideration, Senate passage (no companion bill identified), and presidential action. Given the 119th Congress is in its second session (2026), the window for passage is narrowing. Without committee leadership sponsorship or multiple co-sponsors, the probability of enactment this year is extremely low.