Rep. Hill & Rep. Schweikert Introduce Bill to Bolster Investment Opportunities for Main Street Investors
Washington, May 19, 2021
WASHINGTON, D.C. – Rep. French Hill (AR-02) and Rep. David Schweikert (AZ-06) today introduced H.R. 3328, the Fair Investment Opportunities for Professional Experts Act. The legislation expands the definition of an accredited investor, allowing Americans who have relevant education, professional experience, or other similar credentials to invest in private offerings.
“An arbitrary wealth test should not be the metric by which the federal government determines who can and who can’t invest in private offerings,” said Rep. Hill (AR-02). “Small businesses and startups in Arkansas and across the country are integral to our nation’s economic growth, innovation, and job creation. This legislation would simply provide individuals who demonstrate a strong understanding of an offering the opportunity to invest in private offerings – providing greater investment opportunities for Arkansans and enabling entrepreneurs to create more jobs.”
“I am pleased to re-introduce this legislation to rightfully expand the definition of an accredited investor. This would expand the definition to include professional experts, providing more Americans with the opportunity to invest in ideas based on their knowledge and capabilities, without being penalized for their current income levels,” said Rep. Schweikert (AZ-06). “The current financial restrict ions on investors are based exclusively on an individual’s income and wealth, excluding too many hard-working Americans who have the experiences necessary to be provided access to capital. I will continue working to ensure all Americans who are looking to grow, and create new opportunities and investments in our communities are able to do so.”