RELEASE: REP. HILL FIGHTS FOR SMALL BUSINESSES TO HAVE ACCESS TO CAPITAL
WASHINGTON, D.C.,
March 8, 2024
WASHINGTON, D.C. - Rep. French Hill (AR-02) today released the following statement after the House passed the Expanding Access to Credit Act, which will expand credit access for small businesses and make it easier for small businesses to comply with regulatory standards.
“As a former entrepreneur and community banker, I understand firsthand the importance of small businesses having fair access to capital to grow. Chairman Patrick McHenry and I have made expanding access to capital a top priority in our committee to ensure entrepreneurs can start and grow their successful business. Small businesses are the backbone of our economy and deserve to be helped – not hurt – by their own government.”
Further Background:
H.R. 2799 - Expanding Access to Capital Act: This legislation would ensure entrepreneurs and small businesses have access to the capital they need to grow.
Rep. Hill’s legislation, the Remove Aberrations in the Market Cap Test for Target Company Financial Statements Act, was included in this bill. His legislation would clarify that all classes of acquirer’s equity could count towards the market cap test to determine which acquisitions (20%) are “significant” to require target company financial disclosures.
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