[Congressional Record (Bound Edition), Volume 158 (2012), Part 2]
[House]
[Page 2033]
[From the U.S. Government Publishing Office, www.gpo.gov]




REOPENING AMERICAN CAPITAL MARKETS TO EMERGING GROWTH COMPANIES ACT OF 
                                  2011

  (Mr. CARNEY asked and was given permission to address the House for 1 
minute.)
  Mr. CARNEY. Madam Speaker, I rise today to encourage my colleagues to 
support bipartisan legislation to create jobs. In December, Congressman 
Stephen Fincher and I introduced H.R. 3606, the Reopening American 
Capital Markets to Emerging Growth Companies Act of 2011.
  Our legislation will create jobs by making it easier for emerging 
growth companies to undertake an IPO. On average, 92 percent of a 
company's growth occurs after they go public. Unfortunately, in recent 
years the number of companies going public has fallen dramatically. 
This legislation will reduce the cost of going public for emerging 
growth companies by phasing in certain costly regulatory requirements.
  Last night, our legislation passed out of the Financial Services 
Committee with a bipartisan vote of 54-1. We have worked hard to craft 
this legislation in a way that can pass both the House and the Senate 
and be signed by the President.
  Please join me in supporting this bipartisan legislation that will 
create jobs and grow the economy.

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