House Financial Services Committee Chairman Jeb Hensarling (R-TX) is espousing the benefits of two pro-growth reform bills included in the omnibus spending package.
Hensarling offered praise for H.R. 4267, the Small Business Credit Availability Act, which was authored by Rep. Steve Stivers (R-OH) and H.R. 4792, the Small Business Access to Capital After a Natural Disaster Act, a measure penned by Rep. Nydia Velazquez (D-NY).
Officials said the Small Business Credit Availability Act would amend Securities and Exchange Commission (SEC) regulation of business development companies (BDCs) for the first time since the 1980s to streamline the offering, filing and registration processes to eliminate significant regulatory burdens.
The Small Business Access to Capital After a Natural Disaster Act amends the Securities Exchange Act of 1934 to have the SEC’s Advocate for Small Business Capital Formation identify challenges to small businesses in areas affected by hurricanes or other natural disasters when identifying problems that small businesses have with securing access to capital.
“Both of these bills are important, pro-growth, bipartisan pieces of legislation that will help our small businesses access the capital they need to expand and create jobs,” Hensarling said. “They are just two of the nearly three dozen strong bipartisan bills our committee has advanced this Congress and that we hope our Senate colleagues will give the same consideration.”