Bynum Celebrates House Passage of Three Bipartisan Bills
Washington, DC – Last night, the House passed Congresswoman Janelle Bynum’s (OR-05) three bipartisan bills, which now head to the Senate to be voted on. The three bills, the Access to Small Business Investor Capital Act, the ELEVATE Act, and the Expanding Access to Capital for Rural Job Creators Act, all benefit small businesses to help them get off their feet and hit the ground running.
“These bills are about creating new opportunities and giving small business owners a real chance to get their businesses off the ground,” said Rep. Bynum. “I’m thrilled to see my colleagues come together to support the growth of our small businesses. This is a step in the right direction, and I look forward to moving them ahead and getting the bills signed into law.”
Background:
In February, Congresswoman Janelle Bynum (D-OR) joined Congressman Troy Downing (R-MT) in introducing the Expanding Access to Capital for Rural Job Creators Act. This bipartisan legislation would require the Securities and Exchange Commission’s (SEC) Office of the Advocate for Small Business Capital Formation to report on the issues rural small businesses face in accessing capital.
In March, Congresswoman Janelle Bynum (D-OR) along with Congressman Brad Sherman (D-CA), Congressman Bill Huizenga (R-MI), and Congressman Andrew Garbarino (R-NY) re-introduced the bipartisan Access to Small Business Investor Capital Act, which makes a narrow technical correction to a federal securities rule that has had major unintended consequences over the last two decades. This will allow Business Development Companies to better compete for capital to then invest in small businesses.
Finally, in May, Congresswoman Janelle Bynum (D-OR) and Congressman Zach Nunn (R-IA) introduced the Encouraging Local Emerging Ventures and Economic Growth Act (ELEVATE) Act. The bipartisan legislation that would reduce bureaucratic red tape for small and mid-sized businesses seeking to raise capital investment through Initial Public Offerings (IPOs).
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