Josh Gottheimer: “Mr. Speaker, if appropriate, this bill directs the SEC to carry out a study in rulemaking on its definitions of small…”

“Mr. Speaker, if appropriate, this bill directs the SEC to carry out a study in rulemaking on its definitions of small entities under the Regulatory Flexibility Act. This study in rulemaking would ensure that the commission more carefully accounts for impacts on small businesses when engaging in rulemaking. The Regulatory Flexibility Act provides small entities with a greater opportunity to participate in the development of certain regulations and will result in more small businesses being included in the definition of small entities under the act. In effect, it gives them a louder voice when it comes to development of SEC regulations that directly apply to them. Democrats worked to secure important language, ensuring investor protection remains a key focus of the bill. It balances the needs of facilitating capital formation and, of course, protecting our small businesses, which are so critical and are the lifeblood of our country and the jobs in our country. Mr. Speaker, I thank the gentlewoman from Missouri (Mrs. Wagner) for agreeing to these changes when this bill was marked up in committee. Mr. Speaker, I urge my colleagues to vote ``yes'' on this bill, and I reserve the balance of my time.”