U.S. Rep. Bruce Poliquin’s (R-ME) bill to aid small business growth passed the House on Monday with broad bipartisan support.
The Small Business Capital Formation Enhancement Act, H.R. 4168, calls on the Securities and Exchange Commission (SEC) to assess each recommendation from the Government-Business Forum on Capital Formation and determine any action that the commission intends to undertake.
The forum is held each year by the SEC as required by the Small Business Investment Incentive Act of 1980. It brings together leaders in U.S. securities laws, including attorneys, private sector lawyers, academics and business people, to provide recommendations and suggestions to aid small businesses in accessing capital markets.
“Small businesses in Maine and throughout the entire Country struggle to raise capital to expand, grow and hire more workers,” Poliquin said. “In fact, 80 percent of the new jobs created in the United States are created by small businesses.
“My number one focus in Congress is job creation. Congress must continue to act to foster a more business-friendly environment for job creators to grow and hire more workers.
“My bill makes it easier for small and local businesses in Maine to hire more workers and create more jobs by improving the resources available to them. This bill improves the ability and effectiveness of the Government-Business Forum on Capital Formation, a body of economic experts that provides important resources and advice on helping our small businesses.”