The House has passed H.R. 1005 - CLASS Act. This bill was introduced by Representative David P. Joyce.
The vote was 242-176.
You can track corporate lobbying on this bill and relevant congressional stock trades on Quiver Quantitative's H.R. 1005 bill page.
Here is a short summary of a March 5, 2025 version of the bill.
H.R. 1005 - CLASS Act Summary
This bill, known as the CLASS Act (Combating the Lies of Authoritarians in School Systems Act), aims to enhance transparency regarding funding and contracts involving public elementary and secondary schools in the United States that come from foreign sources, particularly the Government of the People’s Republic of China and the Chinese Communist Party. Here are the key points of the bill:
Prohibition on Certain Funds and Contracts
The bill prohibits public elementary and secondary schools from accepting funds or entering into contracts with the Government of China or the Chinese Communist Party. If a school were to receive funds or enter into a contract with these entities, it would be in violation of this legislation.
Disclosure Requirements
To receive federal financial assistance, public schools must comply with specific disclosure requirements:
- Schools must submit a written disclosure to the Secretary of Education if they receive over $10,000 in total from a foreign source or enter into contracts exceeding that amount.
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The disclosure must include:
- The name and country of origin of the foreign source.
- If funds are received, the amount and any conditions tied to these funds.
- If a contract is entered into, the terms and conditions of the contract must be disclosed.
Definitions
The bill provides definitions for certain terms used within it:
- Applicable program: Defined as per the General Education Provisions Act.
- Elementary and Secondary School: Defined as per the Elementary and Secondary Education Act of 1965.
- Federal Financial Assistance: Defined according to United States Code.
- Foreign Source: Defined in relation to the Higher Education Act of 1965.
Regulatory Measures
The Secretary of Education is tasked with overseeing compliance with these disclosure requirements and prohibitions. Schools failing to comply may risk losing federal funding or assistance.
Additional Context
The bill was introduced to promote the idea of safeguarding educational institutions from foreign influence, ensuring that foreign-funded programs or materials do not interfere with the educational system's integrity.
Relevant Companies
- BABA (Alibaba Group Holding Limited) - As a major Chinese e-commerce company, Alibaba may face implications in the U.S. market if schools cannot collaborate with foreign companies for educational materials or technology.
- TCEHY (Tencent Holdings Limited) - Tencent, being a significant player in technology and entertainment, might see impacts in educational partnerships or funding for related projects in U.S. schools.
This article is not financial advice. Bill summaries may be unreliable. Consult Congress.gov for full bill text. See Quiver Quantitative's disclaimers for more information.
Representative David P. Joyce Bill Proposals
Here are some bills which have recently been proposed by Representative David P. Joyce:
- H.R.5166: Financial Services and General Government Appropriations Act, 2026
- H.R.3593: Title VIII Nursing Workforce Reauthorization Act of 2025
- H.R.2935: PREPARE Act of 2025
- H.R.2934: STATES 2.0 Act
- H.R.2853: Combating Organized Retail Crime Act
- H.R.1477: Animal Cruelty Enforcement Act of 2025
You can track bills proposed by Representative David P. Joyce on Quiver Quantitative's politician page for Joyce.
Representative David P. Joyce Net Worth
Quiver Quantitative estimates that Representative David P. Joyce is worth $4.8M, as of December 4th, 2025. This is the 173rd highest net worth in Congress, per our live estimates.
Joyce has approximately $2.2M invested in publicly traded assets which Quiver is able to track live.
You can track Representative David P. Joyce's net worth on Quiver Quantitative's politician page for Joyce.
Representative David P. Joyce Stock Trading
We have data on up to $8.6M of trades from Representative David P. Joyce, which we parsed from STOCK Act filings. Some of the largest trades include:
- A December 11th, 2018 purchase of up to $250K of $VCSH. The stock has risen 2.81% since then.
- A December 21st, 2018 sale of up to $250K of $IWM. The stock has risen 94.46% since then.
- A December 11th, 2018 sale of up to $100K of $JNK. The stock has fallen 6.06% since then.
- A March 26th, 2020 purchase of up to $100K of $VONE. The stock has risen 160.59% since then.
- A December 11th, 2018 sale of up to $100K of $QQQ. The stock has risen 281.1% since then.
You can track Representative David P. Joyce's stock trading on Quiver Quantitative's politician page for Joyce.
