House Passes Chairman Chabot’s Bill to Help Startups Access Early Capital
HALOS Act Wins Bipartisan Support, Advances to U.S. Senate
WASHINGTON – The U.S. House has passed Small Business Committee Chairman Chabot’s bipartisan legislation to help startup companies access early capital. H.R. 79, the Helping Angels Lead Our Startups (HALOS) Act, was passed by a vote of 344 to 73.
“One popular way small businesses connect with angel investors is through ‘demo days,’” said Chairman Chabot (R-Ohio). “These exciting events are sponsored by universities, non-profits, local governments, or other groups, that allow entrepreneurs to showcase their products and informally meet investors and customers.”
“SEC regulations are threatening to force these events out of business by imposing unwieldy regulations dictating who is and who is not allowed to simply attend,” Chabot explained. “We must continue to work together to create an environment where our small businesses, the engines of our economy, grow and flourish. This bill is one more step in that direction.”