Washington, DC – Today, the House of Representatives passed the Improving Access to Small Business Information Act (H.R. 3351), a bipartisan bill led by U.S. Representatives Young Kim (CA-40) and Josh Gottheimer (NJ-05), to streamline federal regulations and better support small businesses.
This bill specifies that certain actions of the Securities and Exchange Commission’s (SEC) Office Advocate for Small Business Capital Formation (Advocate) —such as conducting field surveys—are not a collection of information under the Paperwork Reduction Act (PRA). This allows the Advocate to prioritize facilitating access to capital without bureaucratic delays.
Watch Rep. Kim speak on the floor in support of the bill HERE.
“California is home to over 4.2 million small businesses. Burdensome regulations are getting in the way of the federal government collecting basic data on small business challenges, hurting our government’s ability to support entrepreneurs,” said Rep. Young Kim. “The Improving Access to Small Business Information Act cuts through unnecessary red tape so the Office of the Advocate can ask the right questions, collect timely feedback, and do its job — help small businesses access capital and grow.”
The Improving Access to Small Business Information Act passed the House with strong bipartisan support and now heads to the Senate for consideration.
Read more about the bill HERE.
