Bryan Steil: “I thank my colleague from Kentucky. Mr. Speaker, I rise to support my bill today, the Expanding Investment in Small…”

“I thank my colleague from Kentucky. Mr. Speaker, I rise to support my bill today, the Expanding Investment in Small Business Act. Small businesses and entrepreneurs are vital to our economy. More than 60 percent of new jobs are created by small businesses, and almost half of our private-sector workforce is employed by firms with fewer than 500 employees. Small businesses are also an engine for innovation. According to the Small Business Administration, small businesses account for an outsized percentage of patents granted in the most innovative industries. I see this ingenuity in Wisconsin in Racine, Janesville, Kenosha, and everywhere in-between. Entrepreneurs and startups create good-paying jobs for workers. It is important that we continue giving job creators the ability to invest in our communities. But in order to grow, hire, and invest in innovation, small businesses need access to capital. Unfortunately, rules and regulations have made it harder for companies to gain access to capital, made it harder for them to go public, and made it harder for them to stay public. This hurts small companies, and this hurts the broader economy. In particular, this hurts American workers and their retirement security. Just under half of all households are invested in mutual funds. Many Americans are invested in these funds through 401(k)'s and pension plans. Their retirement security depends upon the ability to invest in a diverse set of growing, innovative companies.…”