Washington, D.C. – House Majority Leader Kevin McCarthy (CA-23) released the following statement after passage of the Micro Offering Safe Harbor Act (H.R. 2201):

“New business creation is exceptionally important to job creation, higher wages, and economic growth—all central components of the House Republican agenda and our Innovation Initiative. In 2012, the Jumpstart Our Business Startups Act (JOBS Act) was signed into law. This legislation made it easier for startups to raise the necessary capital to grow their business. Today’s passage of the Micro Offering Safe Harbor Act builds on our commitment to give startups the room to grow. By clarifying the rules of the Securities Act to exempt nonpublic offerings—such as funding from family and friends—from unnecessary regulatory burdens, new private companies can operate without fear of unintentionally running afoul of the law. Entrepreneurs and their employees have a lot on their plate to turn their idea into a successful business. Washington’s job should be to foster that growth, not complicate it. This bill from Tom Emmer goes a long way to clearing room for that growth to occur.”