Political Quotes

“I thank Chairman Camp for his leadership on this bill. I thank Chairman Hensarling for his leadership on the issue that I rise to speak about today. Mr. Speaker, I rise to support the Jobs for America Act, H.R. 4. In Virginia's Fifth District, our district, there are literally thousands of jobs that exist because of private equity investments. These critical investments allow our small businesses to innovate, expand their operations, and create the jobs that our communities need. Unfortunately, Dodd-Frank has placed the costly and unnecessary regulatory burden of SEC registration on advisers to private equity while exempting advisers to similar investment funds. These registration requirements do not improve the stability of our financial system, and they restrict the ability of private equity to invest capital in small businesses, which would spur job growth. Instead of complying with costly SEC registration, private equity should be encouraged to focus on investing capital in companies such as Virginia Candle, a company in our district that, through private equity investment, expanded from a garage in Lynchburg to millions of homes across the world. That is why I, along with my colleagues Representative Cooper and Representative Himes, introduced the Small Business Capital Access and Job Preservation Act, a provision of H.R. 4 which previously passed the House with bipartisan support.…”