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The House unanimously passed HR 1190 in late June, which amends the Securities and Exchange Act of 1934 to require the SEC to advocate for small business capital within rural businesses.
“As any small business owner can attest, the number one barrier to growth is access to capital. Through my own experiences, I know how difficult it can be for businesses to secure the funding they need to grow,” Montana Rep. Troy Downing said of the bill.
The bill is among many passed in late June related to increasing financial services throughout various sectors of the U.S. The House Financial Services committee passed HR 1190 in a 51-0 vote, along with 12 other bills that relate to helping startups, allows greater access to investor capital for small business, and encouraging public offerings. (MORE NEWS: Louisiana Goes All-In On America 250)
“During our past five months of the 119th Congress, this Committee has been hard at work examining solutions to improve the quality and condition of financial regulation to empower access to capital for American businesses – large and small. These bills strengthen community banking in America, relieve small businesses from the strain of harmful overregulation, expand access to capital, and more,” said HFS Chairman French Hill.
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