New Dem Financial Services Members’ Statement on INVEST Act

Today, nine New Democrat Coalition Members who serve on the House Committee on Financial Services released a statement ahead of the House vote on the Incentivizing New Ventures and Economic Strength Through Capital Formation (INVEST) Act (H.R. 3383).

New Dem Reps. Gregory Meeks (NY-05) and Josh Gottheimer (NJ-05) led the introduction of the INVEST Act alongside Financial Services Committee Chair French Hill (AR-02) and Capital Markets Subcommittee Chair Ann Wagner (MO-02). The INVEST Act includes more than 20 bipartisan bills reported out of the Financial Services Committee - including 19 bills either led or co-sponsored by New Dem Members - that will modernize rules surrounding capital formation, cut red tape, help small businesses and entrepreneurs thrive, and bolster and protect American investors.

Reps. Gregory Meeks, Josh Gottheimer, Janelle Bynum (OR-05), Sam Liccardo (CA-16), Brittany Pettersen (CO-07), Vicente Gonzalez (TX-34), David Scott (GA-13), Jim Himes (CT-04), and Brad Sherman (CA-32), Ranking Member of the Subcommittee on Capital Markets, issued the following statement:

"With the affordability crisis raging across the country, small business owners, entrepreneurs, and working Americans need every resource possible to secure their financial futures.

"The INVEST Act will take decisive steps to expand economic opportunity for the American people by giving America's small businesses and entrepreneurs access to the capital they need to innovate, grow, and create good jobs. It also empowers working people and seniors to build wealth, grow their savings, and plan for their retirement while guarding against scams and exploitation.

"This legislation will deliver much-needed support to families and businesses struggling with high prices, and New Dems will keep working to drive down the cost of living so hardworking Americans can reach their full economic potential."

The following bills included in the INVEST Act are either led or co-led by New Dem Members:

• Expanding Access to Capital for Rural Job Creators Act (H.R. 1190)
• Helping Angels Lead Our Startups (HALOS) Act (H.R. 3352)
• Advocating for Small Business Act (H.R. 4449)
• Small Entity Update Act (H.R. 3382)
• Improving Access to Small Business Information Act (H.R. 3351)
• Improving Capital Allocation for Newcomers (ICAN) Act (H.R. 4431)
• Developing and Empowering our Aspiring Leaders (DEAL) Act (H.R. 4429)
• Fair Investment Opportunities for Professional Experts Act (H.R. 3394)
• Retirement Fairness for Charities and Educational Institutions Act (H.R. 1013)
• Equal Opportunity for All Investors Act (H.R. 3339)
• Senior Security Act (H.R. 1469)
• Improving Disclosures for Investors Act (H.R. 2441)
• Increasing Investor Opportunities Act (H.R. 3383)
• Encouraging Local Emerging Ventures and Economic Growth (ELEVATE) Act (H.R. 3301)
• Access to Small Business Investor Capital Act (H.R. 2225)
• Encouraging Public Offerings Act (H.R. 3381)
• Middle Market IPO Cost Act (H.R. 3395)
• Expanding WKSI Eligibility Act (H.R. 4430)
• Enhancing Multi-Class Share Disclosures Act (H.R. 3357)