Small businesses would have more resources available to help expand their workforces under bipartisan legislation recently reintroduced by U.S. Rep. Bruce Poliquin (R-ME).
The Securities and Exchange Commission (SEC) holds the Government-Business Forum on Capital Formation each year to glean recommendations from SEC attorneys, private sector attorneys, academics and business leaders on how to help small businesses gain access to capital markets.
The Small Business Capital Formation Enhancement Act, H.R. 1312, which Poliquin reintroduced with U.S. Rep. Juan Vargas (D-CA), would ask the SEC to assess each forum recommendation and to determine which, if any, should be undertaken.
“Small businesses are the lifeblood of our economy in Maine and across our nation, and it’s critical they are given the access to capital and resources they need to succeed,” Poliquin said. “Often times, however, the system is working against them, as they struggle to raise enough money to grow and bring on new employees. I’m proud to once again push this bipartisan bill forward with my colleague Congressman Vargas to give our local job creators the tools to expand their businesses and hire more workers.”
The measure aims to make the Government-Business Forum on Capital Formation more effective and to help the SEC prioritize the capital needs of small businesses.
“When small businesses thrive, our economy thrives,” Vargas said. “This bipartisan bill will ensure that hard-working small business owners have access to the capital and other resources they need to succeed.”