Political Quotes

“Right-sizing Federal regulation on M&A brokers in these small business transactions I believe makes good sense. All of us have small- and medium-size business owners in our districts who sooner or later will want to sell or grow their businesses through acquisition or transfer of ownership. They will seek advice and hire highly trained professionals to help them find and screen potential targets. These buyers and sellers are represented by lawyers and accountants who will conduct the due diligence. They will rely on written representations and warranties in these negotiated transactions for their protections. We should reduce the barriers to capital formation, and this bill is an important step towards that. This bill, by streamlining small private transactions, will free up SEC resources to protect the public against public markets and passive investors. As baby boomers age, there is a tremendous transfer of wealth and streamlining that will occur over the next generation. As my colleagues so aptly said, it is estimated that over $10 trillion of privately owned businesses will be sold or closed as baby boomers retire. Jobs are preserved and created when existing businesses are acquired by entrepreneurs or other companies. In Main Street, typically business brokers play a vital role in facilitating these private business mergers and acquisitions. This bill will encourage such business growth.…”