On January 10, the U.S. House of Representatives overwhelmingly passed, by a vote of 344-73, bipartisan legislation originally introduced by Rep. Brad Schneider to help startup companies grow and create jobs by accessing the capital they need from angel investors. Schneider spoke on the House floor in favor of the legislation.
“Startups are a tremendous source of dynamic growth and new jobs for our economy, but certain regulations have had the unintended effect of limiting their access to critical capital by placing burdensome restrictions on events where entrepreneurs can introduce their business ideas to potential investors,” said Schneider. “The HALOS Act helps remove this roadblock, ensuring entrepreneurs and investors can connect more easily, while still maintaining important investor protections.”
Rep. Schneider introduced the HALOS or Helping Angels Lead Our Startups Act with Rep. Steve Chabot (R-OH) during the 113th Congress. In the intervening Congress, the bill was re-introduced by a bipartisan group of members including Reps. Chabot and Kyrsten Sinema (D-AZ). Schneider is a co-sponsor of the current legislation.
“I was proud to introduce this bipartisan, commonsense bill during my first-term in Congress, and appreciate the work of my colleagues on both sides of the aisle who continued to advocate for its passage,” said Schneider.