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Regulation A+ Improvement Act of 2017

Floor Speech

Date: March 15, 2018
Location: Washington, DC
Issues: Business and Consumers

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Ms. TENNEY. Mr. Speaker, I thank the chairman for yielding me time.

Mr. Speaker, I rise to support this bipartisan legislation, H.R. 4263, the Regulation A+ Improvement Act, introduced by my colleague from New Jersey (Mr. MacArthur).

Congratulations to Mr. MacArthur and the chairman for bringing this great legislation to the floor.

This legislation would increase, from $50 million to $75 million, the offering exemption amount that companies can offer under the Securities and Exchange Commission's, the SEC, Tier 2 of Regulation A, an amendment to the 2012 JOBS Act.

As the owner of a small business, I understand firsthand the vital importance of making our Nation's business climate competitive at all levels. Small businesses create nearly 70 percent of the new jobs in our country. Yet small businesses are only starting to see a resurgence from the struggling ecosystem created in the last Presidential era. Thanks to the recent tax cuts and regulatory changes, we have seen continued growth.

H.R. 4263 would be the next step toward helping small companies raise necessary equity capital to enable them to grow and compete in a changing and dynamic marketplace. This will result in more jobs and more opportunities for our communities.

This bill would expand the SEC's Regulation A+ from $50 million to $75 million, and it would allow companies to consider mini IPOs or mini initial public offerings at a less costly alternative to raising capital.

In my district, it is difficult to raise capital and secure a steady line of credit for developing and sustaining small businesses. I have experienced this very difficulty and struggle with clients I have represented in my own legal practice.

This bill would help tremendously in improving access to capital for small companies that ultimately are the drivers of job growth in New York and across the Nation.

Mr. Speaker, I want to again thank Mr. MacArthur and the bipartisan group of cosponsors for their hard work, and I urge my colleagues to support this great legislation.

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