Downing Bill to Expand Rural Access to Capital Passes House
Today, Congressman Troy Downing’s (MT-02) bill, H.R. 1190, the Expanding Access to Capital for Rural Job Creators Act, passed the House of Representatives by voice vote. This is the first bill sponsored by Congressman Downing to pass the House. The bill now awaits consideration in the Senate, taking a critical step toward becoming law.
“Rural small businesses are the economic lifeblood of Central and Eastern Montana,” said Congressman Downing. “H.R. 1190 ensures that rural Main Street receives the long-overdue attention it deserves from the SEC’s Office of the Advocate for Small Business Capital Formation to allow these businesses to flourish. I’m proud to see my first bill pass the House and look forward to getting this legislation through the Senate and onto the President’s desk.”
Click here or on the above image to watch Congressman Downing’s remarks in support of H.R. 1190 on the House floor.
Background:
The SEC’s Office of the Advocate for Small Business Capital Formation is required to identify problems that small businesses face when securing access to capital and submit an annual report to Congress.
Currently, the Office’s list of applicable entities are minority-owned, women-owned, and disaster-stricken small businesses.
This legislation would require the SEC’s Office of the Advocate for Small Business Capital Formation to add rural small businesses to its list of applicable entities.
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