The House has passed H.R. 4216 - FMS-Only List Review Act. This bill was introduced by Representative Sheri Biggs.
The vote was 395-20.
You can track corporate lobbying on this bill and relevant congressional stock trades on Quiver Quantitative's H.R. 4216 bill page.
Here is a short summary of a June 27, 2025 version of the bill.
H.R. 4216 - FMS-Only List Review Act Summary
This bill, known as the FMS-Only List Review Act, directs the Secretary of State, in coordination with the Secretary of Defense, to conduct a review of defense items and services that can currently only be sold through the Foreign Military Sales (FMS) program, as opposed to being available for direct commercial sales. The aim of this review is to evaluate which items and services should be eligible for direct commercial sales, thus potentially increasing the options available to foreign buyers.
Key Provisions
- Review Timeline: The review must be conducted no later than one year after the bill's enactment and annually thereafter.
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Scope of Review:
The review will assess the following for each defense article and service:
- Time required for transfer under the FMS versus direct commercial sales.
- Impact on the workload of the Department of State and Department of Defense.
- Benefits to national security and U.S. competitiveness from allowing direct commercial sales.
- Consultation Requirement: The Secretary of State will consult with the Defense Trade Advisory Group and other relevant parties during the review process.
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Reporting:
A report detailing the findings of each review must be submitted to Congress within 30 days of completing the review. This report will include:
- The criteria used to identify items for potential eligibility under direct commercial sales.
- An identification of items newly added or removed from eligibility, along with reasons for these changes.
- Report Format: The reports will be unclassified but may include a classified annex if necessary.
- Congressional Oversight: The report will be sent to specific congressional committees, including those focused on Foreign Affairs and Armed Services in both the House and Senate.
Purpose of the Bill
The underlying intent of this legislation is to streamline and enhance the process for selling defense articles and services to foreign entities. By allowing some items to be sold via direct commercial sales, it aims to improve the efficiency of transfer processes and potentially foster competitiveness for U.S. defense contractors in the global market.
Potential Implications
Should this bill pass, it may lead to a broader range of defense products available for commercial sale, which could impact U.S. defense relationships with other nations, affect defense contractor operations, and influence how quickly countries can acquire military technology.
Relevant Companies
None found
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 Sheri Biggs Bill Proposals
Here are some bills which have recently been proposed by Representative Sheri Biggs:
- H.R.4216: FMS-Only List Review Act
- H.R.3861: Mobilizing Against Sanctuary Cities Act
- H.R.3860: No Passports for Terrorists and Traffickers Act
- H.R.3576: Veterans’ Life Insurance Expansion and Integrity Act of 2025
- H.R.3034: NFA SBS Act
- H.R.3033: Protecting the Mailing of Firearms Act
You can track bills proposed by Representative Sheri Biggs on Quiver Quantitative's politician page for Biggs.
Representative Sheri Biggs Net Worth
Quiver Quantitative estimates that Representative Sheri Biggs is worth $9.5M, as of September 2nd, 2025. This is the 111th highest net worth in Congress, per our live estimates.
Biggs has approximately $749.1K invested in publicly traded assets which Quiver is able to track live.
You can track Representative Sheri Biggs's net worth on Quiver Quantitative's politician page for Biggs.
