WASHINGTON, D.C. – House Majority Leader Eric Cantor (R-VA) today released the following statement on the passage of the Access to Capital for Job Creators Act, H.R. 2940, sponsored by Whip Kevin McCarthy and The Entrepreneur Access to Capital Act, H.R. 2930, sponsored by Congressman Patrick McHenry. These bipartisan bills will remove Securities and Exchange Commission restrictions on capital formation to spur small business growth and job creation.
“Today the House moved forward on two bipartisan job creation bills to help small businesses to access capital and grow. These common sense proposals were mentioned by President Obama in his September jobs speech and represent common ground where we can produce results for America’s job creators. Small businesses are the heart of innovation, growth and job creation in this country. Right now, the rules put in place by Washington are preventing job creators from raising the capital they need to help their new business succeed. By removing the SEC rules preventing crowdfunding and the general solicitation ban, small businesses will be able to seek capital from a broader range of investors so they can get off the ground, be successful and create jobs. These measures are a boost for small business men and women across the country, and I hope the Senate will work to ensure these common sense measures become law.”