Political Quotes

“I thank my good friend from Colorado. Mr. Speaker, I rise today to support the rule providing for consideration of H.R. 1219, the Supporting America's Innovators Act of 2017. This is a bipartisan piece of legislation that has seen productive debate and almost no opposition when it was considered by the House Financial Services Committee. The House considered a very similar bill last July that received 388 votes here in the House in support. Congressman Patrick McHenry has been steadfast in his dedication to finding opportunities to update our securities laws so we can harness the true power of our capital markets. In recent memory, this started with the JOBS Act, which was very bipartisan and has been crucial to reinvigorating our capital markets. However, there is still more we can do. The Supporting America's Innovators Act of 2017 increases the limit on the number of individuals who can invest in certain venture capital funds before those funds must register with the SEC as investment companies under the Investment Company Act of 1940. Currently, the act limits the number of investors in an investment company fund to 100 if the fund is to be exempt from registration with the SEC. This registration is an extremely costly regulatory requirement that is not always appropriate.…”