WASHINGTON, DC – The National Venture Capital Association (NVCA) today issued the following statement after the House of Representatives passed H.R. 4854, the Supporting America’s Innovators Act of 2016, and H.R. 4855, Fix Crowdfunding Act, introduced by Rep. Patrick McHenry (R-NC), Chief Deputy Whip and Vice Chairman of the House Financial Services Committee. Included as part of the Innovation Initiative led by House Majority Leader Kevin McCarthy (R-CA), both bills would improve access to capital for startup companies.
“Financial capital is the lifeblood of innovative, high growth startups. We are pleased to see Congress focused on proposals to help startups access the capital they need to scale and hire new workers, which is critical for the entrepreneurial ecosystem and the American economy,” said Bobby Franklin, President and CEO of NVCA. “More work remains on a comprehensive policy agenda that strengthens the entrepreneurial ecosystem, but these measures are helpful and we are thankful for Congressman McHenry’s leadership. Combined with the larger Innovation Initiative led by Leader McCarthy, we appreciate the bipartisan support these issues are receiving in the House. Because most net job growth occurs at the startup level, we need to do all we can to ensure they have every chance for success.”