PEGCC Statement Applauding House Passage of H.R. 1105
WASHINGTON, D.C. – Today, Steve Judge, President and CEO of the Private Equity Growth Capital Council made the following statement upon passage of H.R. 1105, The Small Business Capital Access and Job Preservation Act:
“The Private Equity Growth Capital Council applauds the bi-partisan passage of the Small Business Capital Access and Job Preservation Act by the U.S. House of Representatives. The PEGCC is thankful for the vision and leadership of Speaker John Boehner, Majority Leader Eric Cantor, Chairman Jeb Hensarling, Congressmen Robert Hurt, Jim Himes, Scott Garrett, and Jim Cooper for their work ushering this necessary legislation through Congress.
“This legislation reduces the burden on private equity and growth capital firms of complicated and unwarranted registration requirements, instituted as part of the Dodd-Frank Act, on an industry responsible for investing $347 billion in U.S.-based businesses last year. Private equity provides superior returns for its investors, the majority of which include pension funds, charitable foundations, and university endowments. This legislation removes registration requirements that provide no appreciable investor protections, while significantly increasing the cost of compliance for our industry.
“The private equity and growth capital industry is committed to working with the U.S. Senate to pass H.R. 1105 to remove this onerous registration requirement that does little to improve already robust investor protections.”
