Expanding Access to Capital and Strengthening Public Markets

Under Biden’s SEC Chair Gary Gensler, the Commission has put in place costly disclosure mandates and ignored capital formation – something that is vital for sustainable economic growth – discouraging companies from going public and burdening small businesses. 

As President Biden’s regulators continue imposing burdensome regulations and increasing costs for small businesses and public companies, House Republicans are fighting back with legislation that makes it easier for companies to go and stay public and allows small businesses to succeed.

Our legislation reduces regulatory hurdles and expands opportunities for small businesses to raise capital, building on reforms in the bipartisan JOBS Act of 2012, improving the flow of capital to small businesses and ensuring they have access to resources they need. 

For example, our bill reduces regulations by creating an exemption to specific securities regulations for small offerings of securities and raises the limit of total annual gross revenues under which issuers can qualify as emerging growth companies to $1.5 billion. Additionally, the bill raises the caps on the allowed capital and number of investors under which a fund can qualify as a venture capital fund, providing more opportunity for investment.

We must guarantee everyday American citizens have access to wealth creating opportunities and the ability to play a role in strengthening our public markets and growing our economy. 

H.R. 2799, the Expanding Access to Capital Act of 2023, introduced by Rep. Patrick McHenry, cuts burdensome red tape by reducing securities regulations, increases access to capital, creates more investment opportunities, helps small businesses, and strengthens our public markets. 

House Republicans will continue slashing through crushing regulations and lifting up small businesses and entrepreneurs to grow our economy and strengthen our markets.