SBIA applauds House Small Business Committee passage of bipartisan Investing in All of America Act
This bipartisan legislation will expand access to capital for small businesses, particularly those in rural or low-income areas.
WASHINGTON, DC (April 18, 2024) – The Small Business Investor Alliance (SBIA), the leading association for lower middle market private equity funds and investors, applauded passage of the “Investing in All of America Act of 2023” (H.R. 5333) by the House Small Business Committee. On Wednesday, April 17, the committee marked up and approved the legislation along with six other bills.
The bipartisan legislation was introduced by U.S. Representatives Dan Meuser (R-PA) and Hillary Scholten (D-MI) to increase capital available to small businesses. The bill would raise current leverage caps on Small Business Investment Companies (SBIC) to account for inflation and modernize bonus leverage for rural, low-income, and national security investments.
SBICs are highly regulated investment platforms that invest exclusively in American small businesses. SBICs raise private capital and that private capital is amplified by leverage from the Small Business Administration (SBA). This bill would exempt investments in rural or low-income areas as well as in industry sectors that are critical to national security from the leverage cap. There is no new spending, no additional cost to the taxpayer, or new regulatory burden associated with this reform.
The next legislative step for the bill is consideration by the full U.S. House of Representatives. Members indicated they are hopeful that the House will debate and pass H.R. 5333 during National Small Business Week, which runs from April 28 through May 4, 2024.
The bill must pass both the House and the Senate before it can be sent to the President’s desk to be signed into law. SBIA looks forward to continuing to work with Reps. Meuser and Scholten and their colleagues to pass this bipartisan legislation and expand opportunities to increase small business investment across America.
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About the Small Business Investor Alliance (SBIA)
The Small Business Investor Alliance (SBIA) is the premier organization of lower middle market private equity funds and investors. SBIA works on behalf of its members as a tireless advocate for policies that promote competitive markets and robust domestic investment for growing small businesses. SBIA has been playing a pivotal role in promoting the growth and vitality of the private equity industry for over 60 years. For more information, visit www.SBIA.org or call (202) 628-5055.
The Small Business Investor Alliance (SBIA) is the premier organization of lower middle market private equity funds and investors. SBIA works on behalf of its members as a tireless advocate for policies that promote competitive markets and robust domestic investment for growing small businesses. SBIA has been playing a pivotal role in promoting the growth and vitality of the private equity industry for over 60 years. For more information, visit www.SBIA.org or call (202) 628-5055.
