PROTECTING SMALL BUSINESS, PROMOTING ENTREPRENEURSHIP

Vote YES: Supporting America’s Innovators Act of 2017 (H.R. 1219)

By at 5 April, 2017, 9:30 am

UPDATE: On April 6, 2017 the U.S. House passed H.R. 1219 by a vote of 417-3.

SUPPORT INVESTMENT IN AMERICA’S ENTREPRENEURIAL SECTOR

Vote YES: Supporting America’s Innovators Act of 2017 (H.R. 1219)

 

Dear Member of the U.S. House of Representatives:

On behalf of the Small Business & Entrepreneurship Council (SBE Council) and our 100,000 members nationwide, I urge you to vote in favor of the “Supporting America’s Innovators Act of 2017” (H.R. 1219).

Restrained investment and insufficient access to capital have weighed down economic growth, entrepreneurship and the potential of many entrepreneurial firms and small businesses. According to SBE Council’s 2016 “Gap Analysis” series, private sector investment has suffered over the past decade by $1.4 trillion (in 2009 dollars), while the economy is missing 3.7 million firms and startups based on a combination of the most often cited self-employed and employer firms data. Quality job and income growth, rapid innovation and a healthy economy depend on capital and investment to fuel America’s entrepreneurs and small businesses.

Entrepreneurs need policy solutions like H.R. 1219, and SBE Council’s members are pleased that the legislation is supported on a bipartisan basis. H.R. 1219 amends an exemption under the Investment Company Act of 1940 by increasing the investor limitation from 100 to 250 people for qualifying venture capital funds. Modernizing this limitation will lower a key barrier facing promising startups and small firms. The change will permit more investors to participate in venture capital-type funds, and startups and small businesses everywhere will benefit.

Thank you, in advance, for considering America’s entrepreneurial sector and their workforce on this important vote. H.R. 1219 is a smart reform that addresses the critical need of getting capital to entrepreneurs and boosting U.S. investment.

Sincerely,

Karen Kerrigan, President & CEO

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