Nunn Bipartisan Bill to Support Small Business Growth Passes House

"When investment capital gets trapped on the coasts by large firms and D.C. regulators, it's Iowa's small businesses that suffer," said Rep. Nunn. "The ELEVATE Act is a commonsense fix that would level the playing field for Iowa entrepreneurs looking to grow. It ensures that Main Street businesses are no longer sidelined by outdated rules written for Wall Street giants."

The bill modernizes the Securities Exchange Act of 1934 by allowing Emerging Growth Companies (EGCs) to submit just two years of audited financials instead of three, aligning requirements and reducing burdens on startups and small firms. This simple fix makes it easier for local innovators to access the capital they need to grow and compete.

The ELEVATE Act will now move to the Senate for consideration.

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