Expanding Access to Capital for Rural Job Creators Act

Mr. Speaker, I move to suspend the rules and pass the bill (H.R. 5128) to amend the Securities Exchange Act of 1934 to expand access to capital for rural-area small businesses, and for other purposes.

Mr. Speaker, I ask unanimous consent that all Members may have 5 legislative days within which to revise and extend their remarks on this legislation.

Mr. Speaker, I yield myself such time as I may consume.

Mr. Speaker, I rise in support of H.R. 5128, the Expanding Access to Capital for Rural Job Creators Act, introduced by Representative Axne.

While small businesses in the big cities may enjoy easier access to capital to grow their businesses, hire and support their employees, and serve their communities, the businesses in rural America often struggle. Rural America's job growth is half the rate than that of big cities, and rural America's poverty rate is also higher than that of the big cities, even though it has dropped under President Biden's leadership and as a result of this Congress' work.

Congresswoman Axne's bill would require SEC's small business advocate to report to Congress particular challenges that rural businesses face in accessing our capital markets.

Mr. Speaker, I urge my colleagues to support this bill, and I reserve the balance of my time.

Mr. Speaker, I have no further speakers, and I am prepared to close. I reserve the balance of my time.

Mr. Speaker, I yield myself the balance of my time.

I thank Mrs. Axne for her work on this important issue and for always working on behalf of the rural businesses and communities in her district. Congresswoman Axne's bill directs the SEC's Small Business Advocate to similarly focus on the challenges rural small businesses face.

Mr. Speaker, I urge my colleagues to support this bill, and I yield back the balance of my time.

Mr. Speaker, I yield myself such time as I may consume.

Mr. Speaker, I rise in support of H.R. 5128, the Expanding Access to Capital for Rural Job Creators Act.

I thank Representatives Axne and Mooney for their work on H.R. 5128. In the Financial Services Committee, we continually highlight the importance of capital formation for entrepreneurs and job creators in the underbanked rural communities. We all know constituents who have struggled to gain capital to begin their own small businesses.

Small and rural counties and the small businesses in those areas are even more vulnerable during recessions and during economic recovery. H.R. 5128 is an example of legislation that can help solve one of the biggest issues for a number of rural small businesses: access to capital.

Mr. Speaker, I urge all my colleagues to support this legislation, and I reserve the balance of my time.

Mr. Speaker, I urge my colleagues to support H.R. 5128, and I yield back the balance of my time.