US Representative Tom Emmer (R-MN) said his reintroduction of the Main Street Growth Act (HR 5795) serves to stimulate the structure of the capital market while creating jobs.
Emmer also noted that the measure would encourage an increase in initial public offerings (IPOs) at an early stage.
âIt is essential that our capital market structure meets the needs of American businesses, regardless of size or type,â said Emmer. âThis legislation will make it easier for thousands of small, emerging growth businesses – including more than 100 in Minnesota – to become public, generating millions of jobs and billions of dollars in revenue for the economy. I look forward to both sides of the aisle coming together to ensure that American entrepreneurs and workers can continue to be successful. “
The legislation would empower the Securities and Exchange Commission (SEC) to help establish venture capital exchanges to help emerging small businesses gain access to capital for their growth.
Emmer, who noted that participation in the IPO process has slowed down considerably over the past two decades, maintains that emerging growth companies are able to help the economy rebound while pulling Americans back on track. the work market.
The House financial services committee unanimously moved the bill forward. The legislation rolled out of the House of Representatives during the 115th Congress.