Fitzgerald Applauds Passage of Capital Formation Bill for Boosting Economic Opportunity

By U.S. Rep. Scott Fitzgerald - Mar 8th, 2024 11:13 am

WASHINGTON, DC – Today, Congressman Scott Fitzgerald (WI-05) issued the following statement after voting to pass H.R. 2799, the Expanding Access to Capital Act.

“American public markets remain the go-to place for innovative companies to grow and build capital, but we cannot take our strength for granted,” said Rep. Fitzgerald. “Under President Biden’s leadership, and with the help of his federal bureaucrats, the regulatory environment has steadily become more burdensome and costly. I was proud to help pass the Expanding Access to Capital Act today to counter harmful proposals from the administration. Simply put, this bill strengthens our public markets, helps small businesses, and increases opportunities for ALL investors.”

NOTE: This press release was submitted to Urban Milwaukee and was not written by an Urban Milwaukee writer. While it is believed to be reliable, Urban Milwaukee does not guarantee its accuracy or completeness.

Mentioned in This Press Release

People: Scott Fitzgerald

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Comments

Duane says:

March 9, 2024 at 8:58 am

I tried to find out what this bill was about. and if it really was worthy of “applause” from Fitzgerald. From the bill summary if states,

“This bill reduces various securities regulations applicable to certain companies, brokers, and advisors. The bill also allows more investors to invest in specified types of ventures…The bill reduces regulations, for example, by establishing an exemption to certain securities regulations for small offerings of securities”.

I also saw mention in the text about “crowdfunding” and “gig worker equity compensation”. WTF!

No point in me trying to understand it but this bill doesn’t seem like anything I would deem worthy of “applause”, just more deregulation of financial markets. Which is probably why the bill passed with only GOP support. I doubt Fitzgerald even bothers to know what this bill is really about, just follows the money trail left by his financial supporters.

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