U.S. Reps. Bruce Poliquin (R-ME) and Juan Vargas (D-CA) reintroduced a bill, which requests that the Securities and Exchange Commission (SEC) acts on recommendations from the Government-Business Forum on Capital Formation to help small businesses.
The Small Business Capital Formation Enhancement Act asks the SEC to assess each recommendation from its annual Government-Business Forum on Capital Formation to determine what action, if any, the SEC intends to undertake.
The SEC’s annual forum convenes experts on U.S. securities laws—SEC attorneys, private sector lawyers, academics and business people—to make recommendations and suggestions to help small businesses access capital markets.
The lawmakers said their ideas should not go unnoticed. By specifically addressing the ideas brought up at the forum, the SEC will assist small businesses.
“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 bill was first introduced in the last congress and was approved in the House.
“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.”