Legislation seeks to bolster capital market structure

U.S. Rep. Tom Emmer (R-MN) said his re-introduction of the Main Street Growth Act (H.R. 5795) serves to boost the capital market structure while also creating jobs.

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Emmer also noted the measure would encourage a rise in early-stage Initial Public Offerings (IPOs).

“It is critical that our capital market structure meets the needs of American companies, regardless of size or type,” Emmer said. “This legislation will make it easier for thousands of small and emerging growth companies – including over 100 in Minnesota – to go public, generating millions of jobs and trillions of dollars in revenue for the economy. I look forward to both sides of the aisle coming together to ensure that American entrepreneurs and workers can continue to succeed.”

The legislation would empower the Securities and Exchange Commission (SEC) to aid in creating venture exchanges to help small and emerging growth companies gain capital access for growth.

Emmer, who noted participation in the IPO process has slowed considerably over the last two decades, maintains emerging growth companies are capable of helping the economy rebound while bringing Americans back into the workforce.

The House Financial Services Committee advanced the bill unanimously. The legislation advanced out of the House of Representatives during the 115th Congress.