PROTECTING SMALL BUSINESS, PROMOTING ENTREPRENEURSHIP

Statement on U.S. Rep. Patrick McHenry’s Decision to Not Seek Reelection in 2024

By at 5 December, 2023, 6:08 pm

NEWS

For Immediate Release

Washington, D.C. – The following statement can be attributed to Small Business & Entrepreneurship Council (SBE Council) president & CEO Karen Kerrigan on the announcement of U.S. Representative Patrick McHenry (R-NC), Chairman of the House Financial Services Committee, that he will not seek reelection in 2024:

“Chairman McHenry’s work during his years in the U.S. House will not be forgotten by entrepreneurs and the small business community. His policy leadership and legislative work will leave a positive legacy that will benefit entrepreneurs and startups for many years to come. SBE Council is saddened by the Chairman’s decision – given his energy, impact and intellect – however, we certainly respect and admire the thought process that went into his decision. As they saying goes, he will be a tough act to follow, especially given his belief in technology and technological innovation in enabling inclusive access to capital, and in providing solutions and efficiencies in the financial system and financial services industry.”

“Congressman McHenry’s bipartisan leadership and legislation to modernize outdated laws to make investment crowdfunding a reality, accomplished the goals that these reforms set out to do. The JOBS Act truly democratized access to capital for thousands of entrepreneurs, particularly minority and women entrepreneurs, who have been shut out by traditional VC networks. As a direct result of investment crowdfunding, the dreams of countless entrepreneurs have been realized, and billions of dollars have been raised for local businesses. Ordinary investors are capitalizing the businesses they believe in, which has resulted in quality job growth and economic vibrancy for our country and local economies.”

“SBE Council looks forward to a productive 2024 in working with Chairman McHenry. He continues to be a stalwart leader in defending the American dream of business ownership, and he understands entrepreneurs need capital to make that happen. Again, SBE Council will miss his advocacy for small businesses, his common sense on policy, and his strong support of the entrepreneurial spirit in America.”

CONTACT:

KAREN KERRIGAN, kkerrigan@sbecouncil.org

SBE Council is a nonpartisan advocacy, research and education organization dedicated to protecting small business and promoting entrepreneurship. For nearly 30 years, SBE Council has worked on and advanced a range of private sector and public policy initiatives to strengthen the ecosystem for strong startup activity and small business growth.

Visit www.sbecouncil.org for additional information. Twitter: @SBECouncil

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