Regulatory Agenda Highlights Policy Direction

The release of the Spring Regulatory Agenda provides a peek into the Trump Administration's policy focus across several agencies.

Why it matters: While the target dates for actions—and even the specific actions themselves—are almost always subject to change, for CHROs the value lies in the signal of where policymakers are headed on key issues.  

SEC Disclosures. SEC plans a proposed rule to “rationalize disclosure practices” and “facilitate material disclosure by companies and shareholders’ access to that information.” This proposal will likely address executive compensation disclosure, an area where the SEC has already sought public comment and, earlier this year, convened a roundtable discussion that included the Association’s Ani Huang.  

Labor, Employment, and Health

• Independent Contractor. DOL intends to rescind the 2024 independent contractor rule and revisit classification under the FLSA.  

•  Joint Employer. The agenda indicates that the Administration is considering a new rule for joint employer liability under the FLSA.  

• Heat Injury & Illness Prevention. In 2024, OSHA proposed a heat standard which has not been finalized. The regulatory agenda does not specify the agency’s next action.

• Overtime. DOL will consider updates to FLSA exemptions for certain salaried employees, but this is listed as a long-term action, meaning no movement in the next year.  

• Federal Contractors’ Minimum Wage. The Administration is taking steps to rescind the Biden minimum wage increase.

• E-Delivery Safe Harbor. A new proposal to prioritize default electronic delivery of ERISA plan disclosures—an important modernization for health and welfare plan communications.  

Immigration  

• Practical Training (F-1 Students). ICE to propose changes aimed at addressing fraud, national security, and worker displacement concerns. USCIS leadership has suggested eliminating work authorization beyond school enrollment.  

• H-1B Reform (USCIS). Expect proposals to revise cap exemptions, tighten scrutiny on violators, and increase oversight of third-party placements.  

• Biometrics. A new proposal to expand biometric collection across the entire immigration lifecycle.   

• H-1B Lottery. Weighted selection process to favor higher-wage offers.  

The Association will actively engage members to help shape our positions on these proposals and provide updates on developments as they unfold.  The full Spring 2025 regulatory agenda is available here.