WASHINGTON, D.C. - U.S. Congressman Pete Sessions (R-TX), Chairman of the House Committee on Rules, released the following statement after supporting a measure to amend the Securities Act of 1933 to exempt certain micro-offerings from the Act's registration requirements:
"Small businesses and startups are the main drivers of our economy and create hundreds of thousands of jobs for hard working Americans across the country. However, these small businesses are forced to comply with the same costly, regulations that apply to large corporations, corporations who have the means to foot the bill unlike these entrepreneurs who are just trying to get enough capital to make their dreams become a reality. Instead of holding back American ingenuity, our laws should encourage the entrepreneurial spirit. I proudly supported today's measure to break through these chains to allow these job creators to access the capital necessary so they can grow their businesses and achieve the American Dream."
To learn more about H.R. 2201, Micro Offering Safe Harbor Act, click here.
Caroline Boothe, Communications Director