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News & Press: WIPP Legislative Updates

Breaking the Bank Leading the House’s Agenda

Monday, March 28, 2016  
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WIPP Policy Update

Week of March 28, 2016


Breaking the Bank Leading the House’s Agenda


When WIPP published its access to capital platform, Breaking the Bank last year, we set out a broad list of reforms to help women business owners access capital. We are happy to report that Congress has taken our suggestions seriously and is taking action. Just this month, we have seen the platform’s major principles addressed in the House.


As we reported earlier this month, the House Financial Services Committee advanced two pieces of legislation to improve access to venture capital for small firms. The Helping Angels Lead Our Startups (HALOS) Act and the Main Street Growth Act will assist women-owned business access venture capital by clarifying ambiguities in Securities and Exchange Commission (SEC) rules on pitch events and by allowing for stock exchanges specifically designed for venture capital investments.


As mentioned in the above article, the House Small Business Committee passed two important pieces of legislation. The Developing the Next Generation of Small Businesses Act of 2016 will provide adequate resources to support training and counseling services for women entrepreneurs. Additionally, the Commercializing on Small Business Innovation Act of 2016 will accelerate product commercialization within the SBIR program. 


These advances would not have been possible without the advocacy efforts of WIPP members. We would also like to thank Small Business Committee Chair Steve Chabot (R-OH) and Ranking Member Nydia Velazquez (D-NY) for taking on the access to capital challenge. 


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