HALOS Act Passes the House with Strong Bipartisan Support
Today, Representative Claudia Tenney (R-NY) voted in support of the Helping Angels Lead our Startups Act. The HALOS Act removes a regulatory burden that requires angel investors to complete onerous paperwork before attending showcase events, which are intended to introduce entrepreneurs and investors.
This regulation has made it increasingly difficult for angel investors to connect with entrepreneurs looking for opportunities to open a new business.
This bill passed the House with strong bipartisan support, 344-73.
Tenney released the following statement:
“The HALOS Act works to cut red-tape and roll back burdensome regulations, giving entrepreneurs looking to start or grow a business the chance to easily connect with investors. This important piece of legislation will help support our business community in the 22nd district by rolling back Washington’s excessive regulations, giving startup businesses easier access to capital and credit. The disconnect between Washington and Main Street is clear—small businesses with fewer than 20 employees face a cost of 45 percent more per employee to comply with federal regulations than larger businesses. It is vital that we work to create an environment that allows startup businesses, small businesses and family farms to grow here in upstate New York and across the county. Small businesses are the backbone of our economy. True economic growth begins by cutting costly regulations and allowing small businesses to flourish.”