Political Quotes

“The result is, many of these startup companies end up having to sell to a larger company, and many of the ideas and many of the job-creation opportunities are then constrained. We need to make it easier for these companies to access capital. Some of the ideas that are going to be proposed in the legislation will do that. Some of the reforms to reg A, reg D--trying to look at raising the number of investors a startup company can have before they have to report--all are sensible, appropriate incentives to help these startup companies get going. I understand the very important requirements put in place by the so- called Sarbanes-Oxley legislation a few years back, but the cost of going public for startup companies now, on average, is $3 million to $4 million. Those costs are not costs that many of these startup companies can absorb. So some of the sensible reforms that have been proposed by Senator Toomey and Senator Schumer that I have been a proud cosponsor on, on a so-called on-ramp for startup companies, I think make sense as well. There are also other tools we can use to help startup companies as they try to access capital. We have seen a dramatic transformation of the Internet over the last 20 years. Every business, every part of our life has been changed.…”