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Wagner Legislation Helps Save Small Businesses $84 Million

Press Release

Date: Jan. 15, 2016
Location: Washington, DC
Issues: Business and Consumers Employment and Affirmative Action

Last month, Congresswoman Ann Wagner (R-MO-02) secured the inclusion of The Small Company Simple Registration Act of 2015 within the FAST Act highway funding bill. The legislation would require the Securities Exchange Commission (SEC) to streamline the registration process for a small business to file for an initial public offering (IPO).

Yesterday, the SEC announced that through the adoption of Wagner's legislation, small businesses would save $84 million annually and more than 70,000 personnel hours in filing paperwork with the Commission.

"I am thrilled that the SEC has adopted this new law to help small businesses, which create almost seven out of every 10 new jobs in the United States, grow and remain competitive in the marketplace," said Congresswoman Wagner. "Saving companies $84 million and 70,000 hours of work are real figures that will provide invaluable opportunities for growth. As Americans worry about a stagnant economy and fewer jobs, I am pleased we are providing real, meaningful solutions to help our small businesses."


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