The House Financial Services Committee passed three bills out of committee Tuesday — including one that aims to give small businesses more access to capital.
H.R. 2864, the “Improving Access to Capital Act,” sponsored by Reps. Kyrsten Sinema, D-Arizona, and Trey Hollingsworth, R-Indiana, is designed to help small companies obtain more capital and give investors greater investment opportunities by allowing smaller reporting companies to raise capital from the public through a streamlined Securities and Exchange Commission review process.
The bill passed by a vote of 59-0.
Also passing out of committee was H.R. 1624, the “Municipal Finance Support Act of 2017,” sponsored by Rep. Luke Messer, R-Indiana.
The bill, which passed by a 60-0 vote, would require federal banking regulators to treat certain municipal securities held by financial institutions as high-quality liquid assets.