Rep. David Schweikert (R-AZ), Vice Chairman of the House Financial Services Subcommittee on Capital Markets and Government-Sponsored Enterprises, applauded the president's Startup America Legislative Agenda sent to Congress today. This Agenda includes Rep. Schweikert's H.R. 1070, Small Company Capital Formation Act, a bill to raise the offering limit under Regulation A from $5 million to $50 million:
"I am excited that after endorsing my capital formation legislation last year, President Obama has sent his agenda to Congress today. In President Obama's Startup America Legislative Agenda he advocates for responsible measures that will help grow small business access to capital with investor protections," said Rep. Schweikert.
"The president's willingness to push for policies that will help companies grow, invest, and create jobs is extremely encouraging. I wish him better success than I have had in encouraging Harry Reid's Senate to pass this bill immediately.
"I encourage the president to also consider my other capital formation bill, H.R. 2167. At a time when so many small businesses are in need of capital, this is a commonsense proposal that will make our capital markets more vibrant and competitive."