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Arlington, Va. (April 4, 2022) — Americans for Prosperity today urged Congress to advance a series of bills that would help ensure the U.S. remains a strong creator of small businesses and stays competitive in the global economy with countries like China.
Draconian regulations create red tape and prohibitive costs that keep investors on the sidelines and new businesses from entering the market, AFP said in a letter to the Senate Banking Committee.
“The regulatory stranglehold on entrepreneurs’ access to capital markets is creating pain across the U.S. economy, including for everyday businesses and consumers,” said AFP Chief Government Affairs Officer Brent Gardner. “Ironically, government moves intended to protect investors are failing to do so, while also stifling the innovation our country needs to create jobs and form and grow new companies.”
“Through their capital formation agenda, Sen. Toomey and members of the Senate Banking Committee have shown enormous leadership in addressing this concern. We applaud the introduction of their legislation aimed at opening the flow of startup capital, encouraging competition and innovation, and ultimately advancing economic growth.”
Senate Banking RM Toomey mentioned AFP’s letter of support in this video (go to 1:38:00 mark).
Read the full letter from Americans for Prosperity.
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