Washington D.C. – House Majority Whip Kevin McCarthy (R-CA22) introduced the Access to Capital for Job Creators Act today. This legislation would widen the universe of potential investors for small businesses allowed under the Securities Act of 1933 without subjecting these businesses to the onerous costs of registration with the Securities and Exchange Commission (SEC). As a result, small businesses would have increased access to capital, allowing them to grow and create jobs at a time when persistently high unemployment plagues our nation’s economy.
“The economic engine of America is small business and we must ensure federal regulations provide minimal interference so that businesses can grow and create jobs,” McCarthy said. “Exempting small businesses from the burdensome cost of SEC registration will allow them to find investors in order to expand their companies and grow their workforce, providing jobs across the country. House Republicans want to get America back to work, and the Access to Capital for Job Creators Act is a meaningful step in achieving that goal.”