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house Bill H.R. 4168

Does the SEC Need to Consider Ways to Improve Small Businesses’ Access to Capital?

Argument in favor

The SEC ought to review the recommendations of an annual government-industry forum on small business capital formation. That way the SEC can assess ways to help small businesses grow and fuel economic growth.

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02/01/2016
"Small business creates most of the new jobs in this country and it’s important that we do everything we can to help them." [sanders.senate.gov]
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operaman's Opinion
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01/30/2016
Release the banks from government intervention. As banks and small business are squeezed with government regulations, available capital decreases. Unleash the Capital!
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Gregory's Opinion
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02/02/2016
Quite honestly government can make "no interest" loans to small businesses and we will all benefit from the process of investing in ourselves. Its time to end the Ponzi scheme which is Wall Street making everyone go into debt for everything. You cant build a future when the profits are being sucked out of the system.
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Argument opposed

All this bill does is require the SEC to review the findings of a government-industry forum and announce what, if anything, it will do. It's doubtful that will lead to tangible actions that help small business.

Alis's Opinion
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01/30/2016
This is not what I know the most about BUT it seems unnecessarily complex. Surely, there already exists within the SEC an office that does something very similar if not identical. If this bill is truly addressing a serious problem, why is it being introduced 8 years after the Bush administration crashed the global economy? It's hard to believe that no one noticed until 2016. The NAY is because this sounds like busy work.
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Steven's Opinion
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02/04/2016
Does Congress need to consider a way to do its own job without looking to backseat drive every other organization and agency in government??
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ThomasParker's Opinion
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03/29/2016
The SEC should be focused on performing its assigned duties--regulating the exchange of securities--and not wasting time with flailing attempts to pretend that it spends serious time considering its impacts on small business.
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What is House Bill H.R. 4168?

This bill would require the Securities and Exchange Commission (SEC) to conduct an annual review of the government-business forum on small business capital formation. The forum is held each year to address the status of problems and programs related to small business capital formation.

The SEC would be required to review each of the forum’s findings and recommendations, then issue a public statement promptly after assessing disclose any actions it intends to take.

Impact

Small businesses, participants in the annual government-business forum, and the SEC.

Cost of House Bill H.R. 4168

The CBO estimates that implementing this bill would cost less than $500,000 over the 2016-2020 period.

More Information

In-Depth: Sponsoring Rep. Bruce Poliquin (R-ME) introduced this bill to ensure that small businesses can access the capital they need to drive economic growth:

“The Small Business Capital Formation Enhancement Act will make it easier for local businesses in Maine, which might not be able to get bank loans, to access capital markets to get the money they need to grow, hire more workers, and expand our economy. Small businesses can’t grow without capital. This bill will give hardworking, local businesses the tools and support they need to grow and create jobs in our Second District.”

The House Financial Services Committee passed this bill by a vote of 55-1.


Media:

Summary by Eric Revell
(Photo Credit: Flickr user Boston Public Library)

AKA

Small Business Capital Formation Enhancement Act

Official Title

To amend the Small Business Investment Incentive Act of 1980 to require an annual review by the Securities and Exchange Commission of the annual government-business forum on capital formation that is held pursuant to such Act.

bill Progress


  • Not enacted
    The President has not signed this bill
  • The senate has not voted
  • The house Passed February 1st, 2016
    Roll Call Vote 390 Yea / 1 Nay
      house Committees
      Committee on Financial Services
      Investor Protection, Entrepreneurship, and Capital Markets
    IntroducedDecember 3rd, 2015

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    "Small business creates most of the new jobs in this country and it’s important that we do everything we can to help them." [sanders.senate.gov]
    Like (78)
    Follow
    Share
    This is not what I know the most about BUT it seems unnecessarily complex. Surely, there already exists within the SEC an office that does something very similar if not identical. If this bill is truly addressing a serious problem, why is it being introduced 8 years after the Bush administration crashed the global economy? It's hard to believe that no one noticed until 2016. The NAY is because this sounds like busy work.
    Like (4)
    Follow
    Share
    Does Congress need to consider a way to do its own job without looking to backseat drive every other organization and agency in government??
    Like (3)
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    Share
    Release the banks from government intervention. As banks and small business are squeezed with government regulations, available capital decreases. Unleash the Capital!
    Like (2)
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    I have owed small businesses most of my life but the capital is not available, there would be double the business start ups if they did
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    I thought we already had a similar bill of this nature. We need to stop stifling free enterprise at the grass roots.
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    Quite honestly government can make "no interest" loans to small businesses and we will all benefit from the process of investing in ourselves. Its time to end the Ponzi scheme which is Wall Street making everyone go into debt for everything. You cant build a future when the profits are being sucked out of the system.
    Like (1)
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    Nope. Shut em down and let the banks make loans again.
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    I support this because small businesses contribute a tremendous amount to our economy and current measure don't go far enough to support small businesses.
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    I work for a small business and agree that they need to be supported to help our economy.
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    Our government was instituted for and of the people. But now with a Rogue Congress subverting the Constitution and the Bill of Rights, Laws are usurping our Blood-bought Freedoms and making us SERFS in our own home area. We are being TAXED for NOT having insurance, etc. And Now Obama...
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    A good idea but sounds canned and insincere coming from Hillary. Her "folksy" tale about her father insinuates that the government is actually going to care for the small businesses of America. Well guess what Hillary? My Dad was a small business owner, too. The government never did one GD thing for him. What he got, he earned, no thanks to the government which has for decades been held hostage by big business and the iron triangles.
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    Money well spent actually this is a no brainer
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    This is not the function of the SEC. Plain and simple. This is a great idea in concept but this is COMPLETELY unrelated to the SEC and that simple fact would pretty much make this useless. The SEC has no power in the regard and anyone who believes they do is confused - I support the concept but not for this body. More effective implementation could be achieved through another regulatory body.
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    The SEC should be focused on performing its assigned duties--regulating the exchange of securities--and not wasting time with flailing attempts to pretend that it spends serious time considering its impacts on small business.
    Like (1)
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    Imperfect access to capital markets has been a proven reason for rises in income inequality in other countries. We should make sure that we are doing everything we can to strengthen the entrepreneurial spirit in America
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    Small businesses can use all the help they can get after 7 years of Obama's disastrous job killing policies. Recommendation #1, get the govt out of the way of business. No more cronyism, no more corporate welfare, and no more "too big to fail".
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    Most small businesses are outside of the Securities Exchange Commission purview to review and regulate publicly held companies and stock exchanges They have no particular organizational expertise in this area.
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    No
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    This bill doesn't really do/solve anything.
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