Congresswoman Ileana Ros-Lehtinen (R-FL) is pleased with today's House passage of legislation that will make it easier for small businesses to raise capital, expand and hire more workers. This legislation, H.R. 2940 "Access to Capital for Job Creators Act," is just one legislative project in a package of bills that the House has approved this week with the goal of giving small businesses the ability to raise capital, grow, and hire more workers.
H.R. 2940 will provide small businesses with options that allow them to raise more capital. Because of the tight lending standards caused by the economic crisis, small businesses are relying more on private investors and public offerings to finance their expansions. The goal of this bill and others passed this week by the House is to change and update SEC rules that promote and not hinder the access of small businesses to capital formation.
Said Ros-Lehtinen, "Passage of this legislation and others that the House has approved this week, all have one thing in common: To do away with regulations that are an obstacle for small businesses to raise private capital and expand. Small businesses are the engine of our great economy and this is why this House and its Leadership have concentrated their efforts to approve responsibly sound fiscal legislation that promotes and not hinders access to capital. I urge my colleagues in the Senate to act swiftly and pass these common sense bills."
H.R. 2940 "Access to Capital for Job Creators Act" and H.R. 2930 "Entrepreneur Access to Capital Act" were both approved by the U.S. House today.