H.R. 2357: Accelerating Access to Capital Act of 2016

By SBE Council at 1 September, 2016, 9:09 am

UPDATE: On September 8, 2016 the U.S. House passed H.R. 2357 by a vote of 236-178.

The Honorable Ann Wagner

The Honorable Tom Emmer

The Honorable Scott Garrett

U.S. House of Representatives

Washington, DC 20515

Dear Representatives Wagner, Emmer and Garrett:

On behalf of the 100,000 member of Small Business & Entrepreneurship Council (SBE Council), I am pleased to support H.R. 2357, the Accelerating Access to Capital Act of 2015, which also includes the Micro Offering Safe Harbor Act (H.R. 4850) and the Private Placement Improvement Act (H.R. 4852). H.R. 2357 is a needed package of reforms that will improve capital access for startups and growing companies. Capital fuels growth, innovation, quality job creation and entrepreneurship – all things our economy currently needs. SBE Council is urging all House members to vote for H.R. 2357.

H.R. 2357 reduces red tape and uncertainty with regard to rules that make it more complex and costly to raise capital. The reforms will encourage capital formation by: reducing the burden of Securities and Exchange Commission (SEC) registration costs on smaller companies, provide clarity to entrepreneurs who wish to utilize micro offerings, and reinforce the intent of the JOBS Act by revising new SEC rules on Regulation D offerings that only serve to create new red tape and barriers for small businesses.

Thank you for your leadership on proposing practical steps to improve capital access for our nation’s startups and promising small businesses. Every member of the U.S. House needs to vote in favor of these smart reforms to reduce unnecessary red tape and costs that prevent small businesses from obtaining the capital they need to compete and grow.

Sincerely,

Karen Kerrigan, President & CEO

cc: Members of the U.S. House of Representatives