South Lake Today

Washington, D.C. — Florida Congressman Daniel Webster, R-Clermont, today voted to pass H.R. 2799, the Expanding Access to Capital Act, legislation that reduces regulatory barriers and create new pathways for small businesses to raise capital and go public.

"Small businesses are the backbone of our nation’s economy, and it’s critical that entrepreneurs seeking to grow their businesses have access to affordable capital," said Rep. Webster. "By cutting red tape and regulatory burdens, H.R. 2799 will help strengthen our public markets, enable small businesses to thrive, and create new opportunities for everyday investors."

President Biden’s Securities and Exchange Commission (SEC) Chair Gary Gensler has imposed regulatory mandates and ignored capital formation – a vital component for sustainable economic growth. These burdensome regulations have led to increased costs for small businesses and public companies.

"H.R. 2799 amends federal securities law to reduce regulatory burdens and makes it easier for small businesses and entrepreneurs to access capital on the private securities markets and increase investor choice by providing more Americans opportunities to invest in private securities offerings."