Political Quotes

“Mr. Speaker, I yield 5 minutes to the gentleman from New Jersey (Mr. MacArthur), the sponsor of this legislation and a hardworking member of the Financial Services Committee. Mr. MacARTHUR. Mr. Speaker, I am proud to advance this bill--this bipartisan bill. I am grateful for my Democratic cosponsor, Congresswoman Sinema; Democratic Congressman Gottheimer; and Republican Congressman Hollingsworth, for joining me in this effort. The purpose of this bill is pretty simple and pretty narrow. Seven out of ten new jobs in this country come from our Nation's 28 million small businesses. When we help those businesses grow, we help them create new jobs. I think of the biopharmaceutical companies in my home State of New Jersey as an example of companies that desperately need capital to continue to grow, and that growth creates new jobs. The Federal Government cannot do everything, but we can surely help these companies grow in our country. The 1933 Securities Act laid the groundwork that all interstate security offerings have to be registered with the SEC. It was cumbersome, it was expensive, so that Congress made some exceptions. Regulation A allowed a limited amount of offerings for Main Street investors, and Regulation D allowed unlimited offerings for accredited investors. This bill is working at Regulation A. Over time, those limits have gone up periodically. The last time it was lifted was effective 2015. It was raised to $50 million, and it has been helpful.…”