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ICYMI: McHenry Joins NYSE’s Floor Talk to Discuss Committee Republicans’ Capital Formation Agenda


Washington, September 28, 2022 -

Yesterday, the top Republican on the House Financial Services Committee, Patrick McHenry (NC-10), joined the New York Stock Exchange’s Floor Talk to discuss Committee Republicans’ capital formation agenda, which will strengthen our public markets, help small businesses and entrepreneurs, and create new opportunities for all investors.

Watch the full interview here or by clicking the image above.

Read a full transcript of the interview below:

Today, you’re rolling out a portion of your capital formation agenda for 2023. What are you hoping to accomplish with these proposals?

“Well, I think first, being here at the New York Stock Exchange tells a uniquely American story of how our public markets have given private companies the opportunity to scale and grow in our public markets, but also individuals the opportunity to invest in these companies. And so, the story I want to tell is how we create new businesses and link up long-term savings from average Americans so they can retire in the way that they see fit. So, it’s a story of business formation and those that want to invest their money and get a better return. That’s what I’m trying to highlight—rather than higher regulatory burdens out of Washington—the ways that we can make America function better and our economy grow even more strongly.”

If you become Chair of the House Financial Services Committee next year, you have identified capital formation as a top priority. Why is that?

“Well, we see the disadvantages of fewer public companies in our marketplace. And the disadvantage here is that you don’t get the investment opportunities that come to those that are very wealthy in the private markets. The reason that I want to highlight this is I want to tell the story of what my dad did to grow and scale his business. And that’s what every average American may choose for themselves—to start a small business. And the opportunity to take a small business and grow it into a big business, you need investment capital; you need lending; you need the opportunity to get the money you need to take your idea and get it into effect. That’s the story of American risk taking, American innovation. And that’s the story we need to be focused on so we can compete around the globe and make sure that we grow our economy and grow wages.”

Next year, even if Republicans take control of the House, it will still be a Democratic Administration. How will these proposed policies and reforms become law in divided government?

“Well, my hope is that we can learn the lessons of the JOBS Act that was signed into law a decade ago. That was done through a Republican House, a Democrat Senate, and a Democrat in the White House. So, it’s my hope that, like the JOBS Act, capital formation—helping improve the state of small businesses and letting them grow into big businesses—that that’s a story that can bridge the partisan divide in Washington. It’s my hope that we can break through the partisan divide through sound policy focused on giving people better opportunities to invest, to save, and to grow the economy.”

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