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Washington, D.C. – House Majority Leader Kevin McCarthy (CA-23) released the following statement on House passage of an Innovation Initiative bill—H.R. 4139, the Fostering Innovation Act:

“The two main goals of the Innovation Initiative are to bring innovation to government and create policy that enables innovation in the private sector. And nothing holds back private sector innovators more than excess regulation. Today’s vote will help cut away the red tape tying down emerging companies, enabling those who are pushing the boundaries in scientific and medical research to devote themselves to their work, not to navigating bureaucracy.”