Increasing Investor Opportunities Act
Floor Speech
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Mr. HUIZENGA. Mr. Chairman, I rise in strong support of the Incentivizing New Ventures and Economic Strength Through Capital Formation, the INVEST Act, and ask for its immediate passage.
Mr. Chair, this package of bills before the House today is the culmination, as the Chair was saying, of literally a decade's worth of work, bipartisan work, I might add. The time has ripened and the time has come for us to pass all of these.
H.R. 3383 expands access to capital for small businesses, increases investor opportunities for all, and strengthens our public markets.
Last year, as part of the committee's capital formation agenda, we heard from everyday Americans who, despite the odds, succeeded in achieving their dreams.
Today's bill reflects their priorities and the priorities of millions of Americans who are looking for financial security and a better future. I want to take a minute to highlight my bill which is included in this package.
The Improving Disclosure for Investors Act directs the Securities and Exchange Commission to promulgate rules with respect to electronic delivery of certain required disclosures to investors.
Here is what that means: If you have an email, you are able to receive these documents electronically. You are not forced, but you are able to get it. If you don't have an email, by definition you don't even qualify. You will not get these.
By the way, I will note, Mr. Chairman, that the standard for the Social Security Administration is through electronic communications.
This bipartisan bill is straightforward. It provides ample time for transition, notices to consumers, and an ability for anyone to opt out for any reason if they choose to do so.
I was proud to work with the ranking member of the Capital Markets Subcommittee, the gentleman from California (Mr. Sherman), to make sure that consumer protection, especially for seniors, Mr. Chairman, was the foundation of this bill.
There are no poison pills in here, Mr. Chairman. There are no surprises in this. We are champions for American competitiveness, and I urge my colleagues to vote ``yes.''
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