Martha Roby: “I thank the gentleman from New York. Before I call on the gentleman from Arkansas, I just want to make a point to your…”

“I thank the gentleman from New York. Before I call on the gentleman from Arkansas, I just want to make a point to your story about a company here in the United States trying to achieve exactly what you're talking about. We know the private sector creates jobs. Our friends on the other side of the aisle, all they're doing is standing in the way. We continue to lead, to deregulate. Recently, a startup company named Staxxon based in Ohio developed prototypes and patented an innovative new technology for shipping containers that could save U.S. manufacturers, retailers, and sea, rail, and truck carriers millions of dollars annually by reducing the cost of moving and storing shipping containers. Staxxon raised about $1 million, all private money, to hire 5 people, buy supplies, hire local welders, and build prototypes. The third party costs--attorneys, accountants, filing fees, printing, et cetera, of compliance with the relevant security regulations to raise $1 million in $30,000 units from private individuals was over $75,000, enough to hire a full-time welder. He has expressed the need to make the regulatory barriers to raising private investor startup money for innovative entrepreneurial companies like Staxxon much lower while maintaining reasonable protections for private investors and large banking and investment companies.…”