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Wagner Statement on the Passage of the Small Business Freedom to Grow Act

May 22, 2014

Washington, DC - Congresswoman Ann Wagner (MO-2) released the following statement after the Financial Services Committee passed the Small Business Freedom to Grow Act, which would allow smaller companies to have access to many of the capital-raising advantages enjoyed only by larger companies:

"Today's bipartisan passage of the Small Business Freedom to Grow Act is another step in the right direction to unlocking the entrepreneurial spirit. The Small Business Freedom to Grow Act will help create an environment for smaller public companies to raise more capital and hire more workers," said Rep. Ann Wagner. "This legislation will level the playing field currently enjoyed by larger companies, and maintain investor protections. I look forward to working with my colleagues on both sides of the aisle to pass this common-sense legislation out of the House of Representatives in the near future."

Background:

•Since being elected to represent the people of Missouri's 2nd District, Congresswoman Wagner has helped author three bills that have been voted out of the Financial Services Committee in bipartisan fashion.

•Just last year, the Retail Investor Protection Act passed the House of Representatives with bipartisan support.

The Small Business Freedom to Grow Act would give smaller public companies access to many of the capital-raising advantages currently enjoyed only by larger companies.

•Allows S-1 Registration Statements to Automatically Update, which eliminates excessive filing requirements and costly red tape.

•Expands shelf registration for smaller public companies under $75 million, which allows for expedited stock registration.

•Gives eligible companies more control over the timing of their offerings.