Tester’s small business bill becomes law
(BIG SANDY, Mont.) – Senator Jon Tester today released the following statement after his bipartisan Small Company Capital Formation Act became law. Tester’s bill helps small businesses raise much-needed capital to grow, innovate, and create more jobs:
“Increasing access to capital helps new businesses raise money, expand, and create jobs. This new law will let Montana small businesses focus on breakthroughs in science and technology and grow our state’s economy. And it shows that Democrats and Republicans can work together on common-sense solutions that support small businesses and create jobs.”
Tester’s bill, introduced with Senator Pat Toomey (R-Pa.), allows companies to sell up to $50 million in shares without filing lengthy paperwork. Currently, businesses can only raise $5 million under a Securities and Exchange Commission rule known as “Regulation A” – a limit that many businesses consider insufficient.
“As a fast growing technology company, we need more capital to invest and grow even faster. Sen. Tester's legislation will enable us to access public markets and continue our growth," said Lance Trebesch, CEO of Ticketprinting.com, in Harlowton and Bozeman, Mont.
Tester’s bill was part of a bipartisan package of bills designed to help small businesses. The President signed it into law today.