Budd-Meeks Bill Passes Financial Services Committee

Encouraging Initial Public Offerings Heads To House Floor

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Washington, October 12, 2017 | comments
Our legislation is a step towards making going public more attractive, getting our financial markets back towards being the number one method for capital formation.
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WASHINGTON, DC --  U.S. Representative Ted Budd (R-NC) released the following statement after the Encouraging Public Offerings Act passed the House Financial Services Committee.  The bipartisan legislation introduced last week by Representatives Ted Budd (R-NC) and Gregory W. Meeks (D-NY) will encourage capital formation by making initial public offerings more attractive for companies.  

“People with money have been getting together with people with ideas for a long time,” said Rep. Budd.  “The public stock exchanges are a major way we do that now, connecting ideas and the money that makes them possible. We’ve got the same number of public companies today as we did in the early 1980s, when the economy was much smaller.  Our legislation is a step towards making going public more attractive, getting our financial markets back towards being the number one method for capital formation.”

"Taking a company public is a crucial option for entrepreneurs, allowing them to access funding, build on their ideas, and create jobs,” said Rep. Meeks. “Yet, inherent in the current framework are barriers and costs, which should be minimized to allow companies to grow sustainably.  Our bill successfully balances reducing economic hurdles with ensuring consumer protection, which will encourage substantial growth.”

 
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Tags: Congress

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