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Walberg Votes To Help Job Creators Access Capital

January 25, 2013

U.S. Representative Tim Walberg voted in support of H.R. 2930, the Entrepreneur Access to Capital Act, and H.R. 2940, the Access to Capital for Job Creators Act. Both of these bills will help enable small businesses and entrepreneurs to access funds for job creation.

H.R. 2930 permits “crowdfunding”, a method of capital formation which allows individuals to pool capital from a large pool of small investors to fund businesses. The bill allows companies to pool up to $1 million without registering with the Securities and Exchange Commission (SEC) or up to $2 million if the company provides investors with audited statements. Additionally, HR 2940 removes the regulatory ban that prevents small, privately held companies from using advertisements to solicit investors.

“Small businesses and entrepreneurs have consistently led overall job creation in the United States. But many of these smaller companies are also working with limited resources. They cannot focus on hiring when their assets are tied up in outdated government regulations. I am pleased to join both my Republican and Democratic colleagues in passing these two pieces of legislation. Job creators should be given greater access to capital so they can help finance their operations and get back to doing what they do best: creating jobs and growing business,” said Congressman Walberg following the vote.

H.R. 2930, the Entrepreneur Access to Capital Act, passed 407-17while H.R. 2940, the Access to Capital for Job Creators Act, passed 413-11.

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