Political Quotes

“Mr. Chair, I rise in support of my friend and colleague from New York's amendment, which would add his Helping Angels Lead Our Startups, or HALOS, Act to H.R. 2799. Mr. Lawler's legislation is a commonsense step to promote capital formation by permanently reducing certain burdens on U.S. small businesses and entrepreneurs. Unfortunately, when implementing the JOBS Act of 2012, the SEC complicated these events for many startups by classifying demo day discussions as general solicitations, blocking companies from being able to use common fundraising practices. In 2021, then-SEC Chairman Clayton reformed these rules to provide relief for entrepreneurs throughout our country, and my colleague's amendment builds on this progress by adding much-needed certainty that will ensure startups can continue to access demo days without sacrificing their ability to raise capital through popular and practical regulatory pathways. Members of Congress from both sides of the aisle have recognized the need for this amendment with the current language receiving strong bipartisan support, once again, from the committee. Therefore, I urge my colleagues to adopt this commonsense amendment and help U.S. startups grow their ideas into thriving and successful businesses.”