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By Congressman Robert Hurt
As I travel throughout Virginia’s 5th District, the negative effects of federal over-regulation in the Dodd-Frank law can be clearly seen along our Main Streets and on our family farms. Fewer businesses are starting and more are struggling – and the lack of access to private capital is negatively impacting our economy by limiting job growth and stifling investment.
That is why I introduced the Small Business Capital Access And Job Preservation Act. This bill would reduce burdensome federal regulations and restore certainty to the marketplace - allowing our Main Street businesses to access the capital necessary to hire and expand. Without capital investments from private equity, thousands of jobs in Virginia’s 5th District would not exist today. In order for our economy to grow, we must eliminate unnecessary federal mandates, and establish policies that encourage investment, innovation, and the entrepreneurial spirit.
For similar reasons, I introduced the Audit Integrity And Job Protection Act, which would prevent the threat of over-regulation that would significantly increase costs for American businesses. By removing the possibility of more unnecessary compliance costs, our businesses and startups will have the opportunity to achieve their potential and invest in our communities.
This past week, the Financial Services Committee voted to approve the Small Business Capital Access And Job Preservation Act and the Audit Integrity And Job Protection Act. Both bills received bipartisan support and have been reported to the full House of Representatives.
Our small businesses have been negatively affected by harmful policies put forth in Washington for too long. And at a time when too many people in Virginia’s 5th District and across the country are out of work, it is critical that we in the House of Representatives do everything we can to encourage the creation of new jobs and preserve existing jobs.
I look forward to working with my colleagues, both in the House and Senate, to advance these commonsense bills so that we can remove the government as a barrier to job creation, promote robust economic growth, and create the jobs that we need.
If you need any additional information, please visit my website at hurt.house.gov or call my Washington office: (202) 225-4711, Charlottesville office: (434) 973-9631, Danville office: (434) 791-2596, or Farmville office: (434) 395-0120.