Chairman Chabot Introduces Bill to Help Startups Access Early Capital
WASHINGTON – As the 115th Congress gets to work, House Small Business Committee Chairman Steve Chabot (R-Ohio) introduced H.R. 79, the Helping Angels Lead Our Startups (HALOS) Act.
Identified as a way to create opportunities for new entrepreneurs in House Republicans’ Better Way plan for the economy, this bill builds on a provision of the 2012 JOBS Act by allowing angel investor groups established by local governments, non-profits, universities and other organizations to host events designed to let entrepreneurs showcase their work and connect with potential backers.
“When entrepreneurs are looking for ways to access the early capital they need to get off the ground, they look at every avenue available to them,” said Chairman Chabot. “If we’re going to help open doors for the next generation of job creators, we need to take the same approach. This measure will help startups and investors cut through unnecessary red tape and provide them with new opportunities to succeed.”
Read more about the HALOS Act in A Better Way to Grow our Economy (Page 26).This is the second piece of legislation introduced by Chairman Chabot in as many days to reduce the regulatory burden on small businesses and entrepreneurs. The Small Business Regulatory Flexibility Improvements Act, H.R. 33, was introduced yesterday.