Reps. Poliquin and Vargas Reintroduce Bipartisan Legislation to Help American Small Businesses Expand and Create More Jobs
WASHINGTON, D.C. – Congressmen Bruce Poliquin (R-ME-02) and Juan Vargas (D-CA-51) are reintroducing the Small Business Capital Formation Enhancement Act (H.R. 1312), a bipartisan bill that will make it easier for small businesses to hire more workers by improving the resources available to them. The bill passed the House in the last Congress with broad bipartisan support.
“Small businesses are the lifeblood of our economy in Maine and across our Nation, and it’s critical they are given the access to capital and resources they need to succeed, said Congressman Poliquin. “Often times, however, the system is working against them, as they struggle to raise enough money to grow and bring on new employees. I’m proud to once again push this bipartisan bill forward with my colleague Congressman Vargas to give our local job creators the tools to expand their businesses and hire more workers.”
“When small businesses thrive, our economy thrives," said Rep. Juan Vargas. “This bipartisan bill will ensure that hard-working small business owners have access to the capital and other resources they need to succeed.”
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.