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House acts to make it easier for small companies to raise capital
WASHINGTON (AP) ' The House has approved two bills making it easier for small companies and banks to raise capital ' and presumably spur economic growth ' without being forced to deal with costly federal registration rules.
The two measures, which passed with bipartisan support, allow small companies to sell more shares to potential investors and community banks to increase the number of shareholders they can have before they have to register with the Securities and Exchange Commission.
Republicans say the measures will make it easier for small businesses and banks to attract investors and are examples of how the party is trying to work with the White House to promote jobs. Democrats supported the bills but criticized Republicans for blocking larger Democratic-backed proposals to stimulate the economy.