Steve Stivers: “On Tuesday, the Rules Committee met and reported a rule for H.R. 1675, the Encouraging Employee Ownership Act of 2015…”

“On Tuesday, the Rules Committee met and reported a rule for H.R. 1675, the Encouraging Employee Ownership Act of 2015, and for H.R. 766, the Financial Institution Customer Protection Act of 2015. House Resolution 595 provides for a structured rule for consideration of both H.R. 1675 and H.R. 766. The resolution provides 1 hour of debate equally divided between the chair and ranking member of the Committee on Financial Services for H.R. 1675 and H.R. 766. Additionally, the resolution provides for consideration of all seven amendments which were offered to H.R. 1675, and two of the three amendments offered to H.R. 766. Finally, Mr. Speaker, the resolution provides for a motion to recommit for each bill. Mr. Speaker, I rise today in support of the resolution and the underlying legislation. H.R. 1675 is a vehicle for a group of five legislative items, and I will speak about each one of them briefly by title. Title I, the Encouraging Employee Ownership Act, would amend SEC rule 701, which hasn't been modified since 1999. Although small companies are at the forefront of technological innovation and job growth, they often face significant obstacles that are often attributable to the proportionately larger burdens on them that securities regulations--written for large public companies--place on small companies when they seek to go public.…”