Today, Congressman Sires joined his colleagues in the House of Representatives in passing H.R. 2940, Access to Capital for Job Creators Act and H.R. 2930, Entrepreneur Access to Capital Act. H.R. 2940 would make it easier for small businesses to raise capital by removing restrictions on general solicitation and advertising. H.R. 2930 enables small businesses and individuals to make use of internet-based platforms, including social networks, to raise capital.
"This legislation will help to strengthen our economy and address and the needs of middle class families and small businesses by allowing the average American person and business to invest and to raise capital more easily," said Sires. "Both pieces of legislation will improve access to capital for small businesses and entrepreneurs, but this is just a small step in improving our economy and creating jobs. Congress must pass legislation that directly addresses the need for job in this country."
H.R. 2940 passed by a vote of 413 to 11 and H.R. 2930 passed by a vote of 407 to 17. Both pieces of legislation are currently under review in the Senate.