Carolyn Maloney: “I thank the gentleman for yielding and for his outstanding work on this bill and so many others. I, first of all, want…”

“I thank the gentleman for yielding and for his outstanding work on this bill and so many others. I, first of all, want to thank Ranking Member Waters and Ranking Member Frank for their hard work on this bill, and to commend Ranking Member Frank for his outstanding leadership on the Dodd-Frank regulatory reform bill. I also applaud the leadership of Chairman Bachus and Chairman Garrett and my colleague Mr. McHenry from the great State of North Carolina for his work on this really new idea in capital formation, and for working so well and being so open to Democratic ideas and working in a very professional way with the Democratic staff and Members' staffs and Members and literally, in some form or another, accepting every Democratic amendment, which I think is a first. So we are grateful for that. Crowdfunding is a way for small startups to raise capital through the Internet. Investors use these Web sites to come together, and on the Internet they are able to raise lower dollar amounts to help enterprises get off the ground. Crowdfunding is a new way of raising capital. It's a new idea, and it helps small businesses. In this time of economic hardship, we have repeatedly heard from our constituents about the need to help small businesses. We have heard from small businesses about the need to have more liquidity and more loans.…”