Promoting Innovation and Job Creation

Statement

Congressman Keith Rothfus [PA-12] released the following statement after the House passed two bills this week that will help small businesses access capital in order to grow and innovate: the Accelerating Access to Capital Act (H.R. 2357) and the Investment Advisers Modernization Act (H.R. 5424).

"Businesses in Western Pennsylvania have suffered from an endless barrage of regulations that stifle growth and make it more difficult to raise capital," said Congressman Rothfus. "The commonsense reforms we just passed reduce compliance costs and regulatory complexity for small businesses so that they can hire new workers and get our economy growing again."

H.R. 2357 makes various changes to how companies register securities with the Securities and Exchange Commission (SEC) to reduce the regulatory burden and to encourage investment.

H.R. 5424 provides various reforms to the Investment Advisers Act of 1940 to modernize certain disclosure requirements for investors and their advisors and lessen the regulatory burden on private equity and other investment advisers.

Source