It’s been a hackneyed term of phrase from lawmakers in Washington, DC – create a friendly environment for start ups and small business and the private sector and economy will grow. However, the bill, H.R. 1105: “Small Business Capital Access and Job Perseveration Act” that aims to “loosen excessive and unnecessary” regulations when it comes to private enterprise and business seems to be indefinitely stalled.
The bill was introduced by Congressman Robert Hurt (R-Va.) last year in an attempt to quash private equity fund advisers from red-tape and costly Securities and Exchange Commission (SEC) requirements that ultimately seem to have ramifications on economic growth. Many are lamenting that the bill itself has been in limbo thanks to what they say is “political posturing.” The bill passed last month in the House, and has been referred to the Senate for more vetting and a vote. However, according to The Hill, the White House veto threat makes it likely that the Senate will not consider it either after the Christmas break.