Last night Rep. Ralph Hall (TX-04) voted with the House to pass two bills that would enable small businesses to grow and create jobs - H.R. 2930, theEntrepreneur Access to Capital Act, and H.R. 2940, the Access to Capital for Job Creators Act.
"These bills work to remove restrictions issued by the Securities and Exchange Commission (SEC) that are preventing entrepreneurs and small businesses from raising capital and creating jobs," said Hall.
Specifically, H.R. 2930 would remove SEC restrictions that currently prevent entrepreneurs from pooling money with small investors and building capital to start a business. In addition, the bill delays the costly and time-consuming registration with SEC, giving new companies the ability to grow and gain their footing during a difficult economy.
Similarly, H.R. 2940 removes the SEC regulatory ban, which prevents small, private businesses from advertising for investors. By increasing the number of potential investors, a business's chance to thrive is also increased.
Hall continued, "By removing these out-of-date regulations at the SEC, Republicans are making progress on eliminating government barriers that are in the way of economic recovery. These bills give entrepreneurs the necessary access to capital in order for small businesses to grow more efficiently, thus creating an environment for job opportunities at a time when the American people need them most. I will continue to support long-term solutions for job creation that allow American businesses the freedom to once again maximize their potential."