House Financial Services Committee advanced Monday a legislative package designed to help small businesses and entrepreneurs.
The package, called the “JOBS and Investor Confidence Act of 2018,” includes 32 individual pieces of legislation that have either passed in the Financial Services Committee or the full House.
“Over the last several months, our Committee has been working hard to put forth a number of capital-formation bills that are designed to breathe new life into markets that are suffocating under aging regulations,” Committee Chairman Jeb Hensarling (R-TX) said. “Thanks to the efforts of the Ranking Member and Members of the Committee on both sides of the aisle, we have a strong bipartisan package that will play an important role in sustaining long-term economic growth and global competitiveness.”
The package has bipartisan support.
“A stronger economy, more jobs for America’s families, and strong investor protections are top priorities for Committee Democrats,” Committee Ranking Member Maxine Waters (D-CA) said. “I want to thank the Chairman and the staff of the Committee on both sides of the aisle for the work that they have been doing, working together to live up to what we always say—that we all support small businesses, their access to capital and protecting investors. This is true bipartisanship we are witnessing today.”
Included in the package of 32 bills is the Crowdfunding Amendments Act, sponsored by Waters and Rep. Patrick McHenry (R-NC), which allows crowdfunding investors to pool their money together into a fund advised by a registered investment advisor.
The package now moves to the full House floor for further consideration.