Political Quotes

“Mr. Speaker, I yield myself such time as I may consume. Mr. Speaker, today I rise in support of H.R. 1312, the Small Business Capital Formation Enhancement Act, which would require the Securities and Exchange Commission to respond to the recommendations from its annual forum on small business capital formation. Small businesses are the backbone of the U.S. economy, and, according to the SBA, have provided 55 percent of all jobs and 66 percent of all net new jobs over the past 40 years. These small businesses are intimately familiar with their businesses and the regulatory environment, and who better to provide insights to regulators and lawmakers on how to best provide and promote capital formation and remove unnecessary regulatory barriers and burdens? Nearly four decades ago, in 1980, Congress recognized the importance of our small-business owners and their having a voice and sharing their recommendations with the SEC, and Congress required the SEC to conduct an annual forum to review the current status and issues surrounding small business capital formation. But while the Commission is required to conduct this forum, its obligation goes no further. Though the SEC often praises this small business forum and the insights and recommendations from the small business community, the SEC has no obligation to respond to or act on the forum's recommendations and findings and has rarely done so.…”