Patrick McHenry actually said...

Your work is important and it has an enormous impact on large and small businesses and economic growth.

The SEC has put forward this memo; it is binding on the staff to actually look at the costs and the benefits of rulemaking.

I appreciate your prompt action on cost-benefit analysis, and the draft guidance that you have put forward.

that if the rules are not implemented correctly at the SEC, the crowdfunding could be 'stillborn.'