On the recordNovember 9, 2017
As I listen to my liberal colleagues, the answer to every business is more government, more regulations. The American people are rejecting that. As a small-business owner, I can tell you the stifling effects of overregulation. That is what this bill takes away. That is what this bill accomplishes. So I strongly support H.R. 2201, the Micro Offering Safe Harbor Act. This bill is a critical step to reduce unnecessary burdens on economic growth and ensure that small businesses have access to the capital they need. I applaud Representative Emmer for championing this legislation. As a member of the House Small Business Committee and a businessman myself, I understand the need of the number of challenges faced by small businesses, especially if that business wants to grow through tapping into the capital markets. Due to onerous SEC regulations, the cost of registration is expensive and out of reach for so many of the businesses wanting to expand. We all know that the SEC provides an important function, which is to prevent securities fraud and protect the integrity of the market. However, we must be wary of a regulatory regime that fails to provide sufficient flexibility for businesses to raise capital while not providing any additional protection for investors. The central purpose of H.R. 2201 is to strike the proper balance between protection and investment.…
