This evening, the House Financial Services Committee unanimously passed Congressman Bill Huizenga's bipartisan legislation H.R. 2274 - The Small Business Mergers, Acquisitions, Sales, and Brokerage Simplification Act by a vote of 57 to 0. This legislation will remove regulatory roadblocks threatening jobs, economic growth, and future investment while allowing for the smooth sale and transfer of both small and mid-sized businesses.
"I am glad to see the Financial Services Committee act in such a strong bipartisan manner to pass H.R. 2274. As baby boomers retire, it is estimated that $10 trillion worth of privately-owned, main street businesses will be sold or closed. We don't want these businesses closing and causing their employees to lose their jobs. The current one-size-fits-all regulatory structure fails to differentiate between the sale of a small privately held business and securities of a publicly traded company. H.R. 2274 recognizes this important difference and establishes a streamlined approach that allows for the sale of small and mid-size businesses while maintaining the necessary safeguards, protecting jobs, and allowing for continued economic growth."
This morning I visited the Outdoor Discovery Center to see first hand how the Great Lakes Restoration Initiative (GLRI) is helping restore wetlands, reduce flooding, and stop harmful runoff from flowing into rivers, Lake Macatawa, and Lake Michigan.
More positive news for West Michigan’s economy! It’s wonderful to see innovative manufacturers continue to expand and/or choose West Michigan as the place to invest, grow, and create good-paying jobs!
This afternoon, the House passed bipartisan legislation to improve care for our veterans and strengthen the Great Lakes economy by ensuring that harbors in Grand Haven, Ludington, Holland and other across the Great Lakes are properly dredged. These are among the first set of legislative funding priorities that have passed Congress and are now headed to the President’s Desk to be signed into law. You can read my full statement on the Conference Report to accompany H.R. 5895, the Energy and Water, Legislative Branch, and Military Construction and Veterans Affairs (VA) Appropriations Act below.
Today West Michigan says farewell to one of the people who helped shape our community into the incredible place it is today. Thank you for all that you have done for West Michigan Rich and while your legacy will live on, know that your leadership and friendship will be deeply missed. Rest well Rich.
The engine of our economy is powered by small business job creators and thanks to tax and regulatory reform they are feeling more confident than ever before. "As the tax and regulatory landscape changed, so did small business expectations and plans," said NFIB President and CEO Juanita D. Duggan. Capital spending is at it's highest level in a decade and small businesses are reporting record levels of job creation!
