CONGRESS FOR VOTERS

David McCormick (R-PA)

Access to Small Business Investor Capital Act

S. 1808 · Senate bill Finance and Financial Sector

A Republican bill with 9 Democratic cosponsors · See all 17 cosponsors

Last activity — Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

In committee

Introduced and handed to a committee in the chamber it started in.

The committee holds it, and most bills are never heard from again. A hearing or a committee vote would be news; silence is the usual outcome, and it kills the bill without anyone voting against it.

Its path through Congress

  1. Introduced
  2. In Committee

What this bill would do

This bill, known as the "Access to Small Business Investor Capital Act," aims to change how investment companies report certain costs. It would allow a registered investment company to omit specific fees from their calculations. Specifically, these omitted fees would be those incurred indirectly from investing in shares of a business development company. This change applies to investment company registration statements filed under the Investment Company Act of 1940.

Yes· 3 of 5

  • Scored +3

    Does this make it easier to run a small business?

    The bill aims to facilitate investment in business development companies which provide capital to small businesses.

  • Scored +2

    Would business owners be better off under this?

    Small business owners who utilize business development companies may see easier access to capital.

  • Scored +1

    Would high-income households be better off under this?

    The policy primarily benefits those engaged in investment activities involving registered investment companies.

The opposite

  • Scored -2

    Does this make what the government does easier for the public to see?

    By allowing the omission of certain fees, the bill may reduce the level of detailed expense transparency for investors.

  • Scored -1

    Does this give people more protection from unfair business practices?

    Reducing fee transparency requirements may slightly decrease the clarity of costs for investors.