Political Quotes

“Mr. Speaker, I am proud to sponsor H.R. 4429, the Developing and Empowering our Aspiring Leaders, or DEAL, Act. This bill, which passed with almost unanimous support out of the Financial Services Committee, seeks to ensure the United States remains the most entrepreneurial country in the world, where the next great companies are founded and funded. It is often said that small businesses are the engine of the American economy, and that is an absolute truth. Small businesses make up 99 percent of U.S. employers, and they are the driving force behind the creation of a majority of new jobs. The entrepreneurs leading these companies are building something new, taking real risks, and driving growth in communities across the Nation, but too often, they can't get a fair shot at investment. Right now, our capital markets suffer from an extreme geographic imbalance. The data is stark. Nearly 70 percent of venture capital flows to three States, Mr. Speaker: California, New York, and Massachusetts. This leaves entire regions of the country struggling to access funding. It leaves communities in the Midwest and the South without the capital they need to build and scale businesses. Access to capital is not just a coastal issue. It is a national economic necessity. This capital divide is why the DEAL Act is so critically important.”