A Republican bill with 4 Republican cosponsors · See all 4 cosponsors
Last activity — Placed on the Union Calendar, Calendar No. 166.
Cleared committee, waiting for its first floor vote
A committee approved it and it is on the calendar of the chamber it started in.
This is further than most bills get, and still no promise of a vote: the calendar is a queue, and the majority leadership decides what is called. A bill can sit here until the Congress ends.
Its path through Congress
- Introduced
- On Calendar
What this bill would do
This bill, known as the "ACCESS Act of 2025," seeks to amend the Securities Act of 1933. The primary goal is to raise the threshold for when issuers using the crowdfunding exemption must file financial statements reviewed by an independent public accountant. Specifically, it proposes increasing the amount from $100,000 to $250,000. Additionally, it grants the Commission the authority to increase this amount further up to $400,000 upon certain recommendations. The bill also includes technical corrections to existing law.
Yes· 3 of 5
- Scored +7
Does this make it easier to run a small business?
The bill specifically reduces the financial and regulatory burden on small businesses using crowdfunding.
- Scored +6
Would business owners be better off under this?
Small business owners benefit from easier access to capital through higher crowdfunding limits.
- Scored +3
Is this likely to create jobs?
By lowering regulatory costs for crowdfunding, businesses may have more capital to expand and hire.
The opposite
- Scored -2
Does this give people more protection from unfair business practices?
Reducing the requirement for independent financial reviews may decrease transparency for investors.
- Scored -2
Does this make what the government does easier for the public to see?
The threshold increase may reduce required financial disclosures for some small-scale issuers.
Who it would affect, and how
Potential Positive Impacts for People
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Lowering barriers for crowdfunding issuers: By raising the offering amount threshold from $100,000 to $250,000, issuers using the crowdfunding exemption would no longer be required to file financial statements reviewed by an independent public accountant at that lower level (Sec. 2(a)(1)).
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Flexibility for threshold adjustments: The Commission would have the discretion to increase the amount from $250,000 up to $400,000 if recommended by the Office of the Advocate for Small Business Capital Formation and the Office of the Investor Advocate (Sec. 2(a)(2)).
Potential Negative Impacts for People
- No specific negative impacts are explicitly detailed in the provided text.
Groups and Interests Ranking
Every group the model scored this bill for, from -10 to +10. Tap or hover a score for the reason it gave.
- Economy And Finance
- Does this make it easier to run a small business? — The bill specifically reduces the financial and regulatory burden on small businesses using crowdfunding. Is this likely to create jobs? — By lowering regulatory costs for crowdfunding, businesses may have more capital to expand and hire. Is this likely to grow the economy? — Reducing barriers to capital formation can stimulate broader economic activity. Does this give people more protection from unfair business practices? — Reducing the requirement for independent financial reviews may decrease transparency for investors.
- Demographic And Interest Groups
- Would business owners be better off under this? — Small business owners benefit from easier access to capital through higher crowdfunding limits.
- Governance And Ideology
- Does this give the federal government more power? — The bill increases the Commission's discretionary authority to adjust offering thresholds. Does this make what the government does easier for the public to see? — The threshold increase may reduce required financial disclosures for some small-scale issuers.
- 7/15/2025
- Reported (Amended) by the Committee on Financial Services. H. Rept. 119-203.
- Placed on the Union Calendar, Calendar No. 166.
- 6/10/2025
- Committee Consideration and Mark-up Session Held
- Ordered to be Reported (Amended) by the Yeas and Nays: 51 - 0.
- 5/29/2025
- Referred to the House Committee on Financial Services.
- 4 Cosponsors added.
- Introduced in House
One bill Congress.gov lists as related to this one — companions in the other chamber, earlier versions, and bills this one absorbed or was folded into.
Monica De La CruzRepublican · Texas
Lisa McClainRepublican · Michigan
Zachary NunnRepublican · Iowa
Maria SalazarRepublican · Florida