House Passes Bipartisan Bill to Support Job Growth
Washington,
January 10, 2017 -
Startup companies will find it easier to attract investments that allow them and other small businesses to grow and create jobs under the Helping Angels Lead Our Startups Act (HALOS Act).
The HALOS Act – which passed the House with bipartisan support Tuesday 344-73– defines an “angel investor group” and clarifies a regulation issued by the Securities and Exchange Commission about when a business can make a presentation to interested parties without running afoul of the securities laws.
“Our economy works better for all Americans when small businesses can focus on creating jobs rather than navigating bureaucratic red tape. The early-stage capital for a startup provided by angel investors is vitally important. The HALOS Act fixes a regulatory overreach so it will be easier for small businesses to attract early-stage investment,” said House Financial Services Committee Chairman Jeb Hensarling (R-TX).
Access to the angel investors who fund early-stage entrepreneurs is important. Companies such as Amazon, Costco, Facebook, Google, and Starbucks were initially funded by angel investors.
The HALOS Act is sponsored by House Small Business Committee Chairman Steve Chabot (R-OH).
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