Political Quotes

“Mr. Speaker, obtaining accessible and reliable forms of capital is one of the biggest challenges that small businesses and entrepreneurs face today. I will say that again. We are not talking about large corporations. We are talking about small businesses and entrepreneurs. According to the 2016 Year-End Economic Report from the National Small Business Association, 41 percent of all small businesses surveyed said that ``lack of capital is hindering their ability to grow their business or expand their operations, and 20 percent said they had to reduce the number of employees as a result of tight credit.'' That is why I introduced the Micro Offering Safe Harbor Act. This bill does not create a new securities registration exemption under the Securities Act; rather, it defines what constitutes a permissible nonpublic offering, and it provides small businesses with the clarity and confidence to know that their offering is not a violation of the Securities Act. If enacted, this will make it easier for entrepreneurs and small businesses--again, not large corporations--to raise money from family, friends, and their personal network without running afoul of the vague and undefined private offering safe harbor provisions in the Securities Act of 1933.…”