Trott: Legislation Helps Ignite Small Business Job Creation, Michigan Economy

WASHINGTON - Today, U.S. Representative Dave Trott (MI-11), member of the House Committee on Financial Services, issued the following statement after voting in support of the Supporting America's Innovators Act of 2017 (H.R. 1219), which would encourage and boost investments in small businesses and startups:

"Michigan small businesses are the engines of job creation. Nationwide small businesses create seven of every ten new jobs and employ over half of the nation's private sector workforce. We need to ensure that our innovators and start-ups in Southeast Michigan have access to the capital they need to grow their business, create jobs, and continue to drive our economy."

The Supporting America's Innovators Act of 2017 amends an exemption under the Investment Company Act of 1940 by increasing the investor limitation from 100 to 250 people for qualifying venture capital funds. The bill would eliminate a significant barrier facing small businesses and startups, instead incentivizing venture capital funds to grow their investments, helping local economies grow and thrive.