Political Quotes

“Mr. Chair, I rise today not only in strong support of the HALOS Act but for the entrepreneurs everywhere in this country. The facts are simple. Angel investors provide vital, often necessary capital for startup companies. Unfortunately, after the passage of the JOBS Act, the SEC made this more difficult, placing unnecessary burdens on companies who are just starting out. Mr. Speaker, the positive impact these startups often have on a community are staggering. In the City of Austin, which I am proud to represent, startup companies provide more than just new technologies. They provide jobs, they generate taxes, and they give back to their local community. In 2015 alone, tech companies in Austin were able to raise almost a billion dollars in new capital. With our economy still on the mend from the financial collapse in 2007, it is time to give businesses, both large and small, the resources they need to compete in an often competitive environment. H.R. 79 rightly amends the SEC Act of 1933 to formally define an angel investor group and exempts them from having to comply with burdensome, third-party verification rules. The HALOS Act provides essential protection for trade associations that often facilitate such meetings between investors and fund managers, continuing to cultivate small business capital formation relationships. This change may be small, but the impact will be great. Mr.…”