Increasing Investor Opportunities Act

Floor Speech

BREAK IN TRANSCRIPT

Mr. STEIL. Mr. Chair, I thank the chairman of the full committee, Mr. Hill, for his leadership as well as the chair of the subcommittee, Mrs. Wagner, not only for her hard work but also for the flawless Luxembourg pronunciation of my last name as the former ambassador to Luxembourg.

Mr. Chair, I rise because we have an opportunity here to make the world's best capital markets even better. In a period of time when Americans are struggling with higher costs, we have an opportunity to lower costs, and the legislation before us tonight accomplishes both of those goals.

Outdated capital market rules are holding back innovation and limiting investor access. By weighing down the engine of our economy, they are raising costs and stifling growth.

The INVEST Act will help to address these challenges. It expands access to capital for smaller companies by making targeted reforms to crowdfunding rules and venture investment restrictions. It opens up investment opportunities to more working Americans saving for their retirements, opportunities that are currently reserved for the rich.

INVEST also streamlines disclosures for startups, and I like that it includes my WKSI bill that alters the status of more companies. More companies can sell securities to the public quicker and with less cost. This bill helps modernize our capital markets, Mr. Chair, to lower costs, reduce complexity, and open opportunities for more Americans.

Mr. Chair, I encourage my colleagues to support this legislation.

BREAK IN TRANSCRIPT

Source