Poliquin Bill to Help Maine Small Businesses Passes Through House
WASHINGTON – Today, the U.S. House of Representatives passed an important small business growth bill introduced by Maine’s Second District Congressman, Bruce Poliquin. Poliquin’s bill, the Small Business Capital Formation Enhancement Act, passed the House with broad bipartisan support. Congressman Poliquin released the following statement:
“Small businesses in Maine and throughout the entire Country struggle to raise capital to expand, grow and hire more workers,” said Congressman Poliquin. “In fact, 80% of the new jobs created in the United States are created by small businesses.
“My number one focus in Congress is job creation. Congress must continue to act to foster a more business-friendly environment for job creators to grow and hire more workers.
“My bill makes it easier for small and local businesses in Maine to hire more workers and create more jobs by improving the resources available to them. This bill improves the ability and effectiveness of the Government-Business Forum on Capital Formation, a body of economic experts that provides important resources and advice on helping our small businesses. ”
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. Poliquin’s 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. Poliquin’s bill will improve the effectiveness of the Forum and assist the SEC to focus on the capital needs of small businesses.