Rep. Poliquin Bipartisan Legislation To Help Small Businesses Passes The House

Statement

Last night, Congressman Bruce Poliquin (ME-02) had his first bill pass the U.S. House of Representatives in the new Congress. The Small Business Capital Formation Enhancement Act, which passed with unanimous, bipartisan support 406-0, will make it easier for small businesses to hire more workers by improving the resources available to them. Congressman Poliquin released the following statement:

"In Maine, our small businesses are the lifeblood of our economy, and it is so important they have the tools they need to succeed, expand, and create jobs," said Congressman Poliquin. "I'm enormously proud of this bipartisan legislation to make it easier--not harder--for our local businesses to access capital to grow and prosper. This is all about jobs."

Congressman Poliquin spoke on the House Floor in support of his bipartisan legislation:Each year, the Securities and Exchange Commission (SEC) holds the Government-Business Forum on Capital Formation, as required by the Small Business Investment Incentive Act of 1980. The Forum brings together the most knowledgeable people on U.S. securities laws--SEC attorneys, private sector lawyers, academics and business people--to make recommendations and suggestions to help small businesses be able to access our Capital Markets, the most liquid in the world.

The Small Business Capital Formation Enhancement Act will ask the SEC to assess each recommendation from the Forum and determine what action, if any, the Commission intends to undertake. Participants in the forum dedicate time, effort and expertise which should not go unnoticed by the SEC. The bill will improve the effectiveness of the Forum and assist the SEC to focus on the capital needs of small businesses.

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