U.S. Treasury Secretary Scott Bessent is pursuing a plan for 3% real economic growth, a reduction in the deficit to 3% of GDP, and an increase in oil production of three million barrels per day. However, the high tariffs, high U.S. dollar, and higher U.S. sovereign debt burden are an impediment to the “Threes” goal.

On February 12, 2025, the SEC’s Division of Corporate Finance issued Bulletin No. 14M, granting management greater freedom to exclude shareholder proposals from proxy ballots, notably those related to social and environmental considerations.

This installment aims to address some of those changes and, perhaps more importantly, their implications for those connected to the corporate proxy space and this proxy season.