H.R. 1219 – Supporting America’s Innovators Act of 2017
Small businesses and start-ups are essential to our entrepreneurial culture. These companies provide jobs and economic growth throughout the United States, especially in Upstate New York. It is our responsibility to encourage an economic environment that allows these entrepreneurs the opportunity to succeed in their ventures.
Access to capital is one of the most important elements in operating, expanding and starting a business. For this reason, I voted for the Supporting America’s Innovators Act because it increases the number of individuals who can invest in venture-capital funds, giving businesses greater access to more investors. This bill passed the House with wide bipartisan support, 417-3.
Half of Americans get their health insurance through their employers. These plans are important benefits on which millions of families rely. Many employers supplement their health insurance policies with stop-loss insurance to hedge against large claims. Stop-loss insurance must remain affordable and accessible to ensure employers continue to offer health insurance plans at an affordable price.
I voted for the Self-Insurance Protection Act to clarify that Washington bureaucrats cannot redefine stop-loss insurance and to ensure that regulation of such policies remains at the state level, closer to the policy beneficiaries. This bill passed the House with wide bipartisan support, 400-16.
H.R. 1343 – Encouraging Employee Ownership Act of 2017
Private companies must have the ability to reward and retain employees with benefits beyond wages. One way that companies retain employees is through securities offerings. Securities not only help employers reward employees, but also enable employees to invest in company ownership. Since 1999 this important employer-employee financial relationship has been limited to $5 million a year in offerings before triggering additional onerous and expensive disclosure requirements by the SEC.
I voted in favor of the Encouraging Employee Ownership Act to update the limit from $5 million to $10 million in employee securities offerings to better enable businesses to reward and retain employees. This bill passed the House with wide bipartisan support, 331-87.