Today, the House of Representatives passed a package of bills that will improve the capital access landscape for innovators across the country. The package included two pieces of legislation championed by Engine: the Micro Offering Safe Harbor Act (H.R.4850) and the Private Placement Improvement Act of 2016 (H.R.4852). With the approval of these two bills, the House has now passed four of Engine’s 2016 legislative priorities related to capital access. The following quote can be attributed to Engine Executive Director Evan Engstrom:
“Along with hiring top talent, raising capital remains one of the key obstacles to getting a startup off the ground. The JOBS Act, which provided new tools for fundraising, was a huge win for the startup community. But as the JOBS Act’s provisions mature and are used more widely, it is critical that policymakers remain open to modifications and improvements that could make the bill’s tools work better for emerging companies. The two bills passed today, combined with Congressman McHenry’s Fix Crowdfunding Act (H.R.4855) and Supporting America’s Innovators Act (H.R.4854), represent commonsense, meaningful reforms that will go a long way towards facilitating capital formation for startups. We appreciate House Majority Leader Kevin McCarthy’s efforts to move these bills in an expeditious manner and hope that the Senate will consider them before the end of the year.”
To learn more about H.R. 4850, 4852, 4854, and 4855, check out Four Years of the JOBS Act: Examining Its Impact and Looking Forward
