Wagner Small Business Growth Legislation Passes House

Washington, D.C. - Congresswoman Ann Wagner (R-MO), Chair of the Financial Services Subcommittee on Capital Markets, released the following statement after the House passed H.R. 3382, her Small Entity Update Act:

“My Small Entity Update Act will reform the SEC’s regulatory approach to make it easier for entrepreneurs across the country to achieve the American dream.   Small businesses can’t afford the extensive legal and regulatory expertise that large, multinational firms employ to comply with every regulation imposed by the government.  This bipartisan bill directs the SEC to assess the costs of compliance for small and growing businesses, ensuring that regulations placed on these businesses are not overly burdensome.  Congress must recognize that regulations have an outsized impact on smaller businesses that are just trying to grow, and my bill is a commonsense step forward that recognizes that fact.

“This is one of seven Capital Markets bills I was proud to usher out of Committee, and across the House Floor today.  This bipartisan package of legislation will ensure Main Street investors have more opportunities to save for their family’s future, a college education, and other vital investments.”