Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Amends the Securities Exchange Act of 1934 to expand duties of the Advocate for Small Business Capital Formation. The Advocate must provide educational resources and host or participate in events promoting capital-raising options for underrepresented, rural, and disaster-affected small businesses.
Progressives stress equity and access benefits
Relative to its intended legislative type, this bill is a concise, well-targeted amendment that assigns additional outreach and collaboration duties to an existing statutory Advocate and integrates cleanly with the Securities Exchange Act of 1934.
Amends the Securities Exchange Act of 1934 to expand duties of the Advocate for Small Business Capital Formation.
The Advocate must provide educational resources and host or participate in events promoting capital-raising options for underrepresented, rural, and disaster-affected small businesses.
The Advocate must also meet at least annually with State securities commissions to discuss collaboration.
Narrow, administrative, low-cost change that commonly wins bipartisan support; procedural Senate hurdles and missing cost clarity reduce certainty.
Relative to its intended legislative type, this bill is a concise, well-targeted amendment that assigns additional outreach and collaboration duties to an existing statutory Advocate and integrates cleanly with the Securities Exchange Act of 1934.
Progressives stress equity and access benefits
These are examples from the analysis, not a ranked list of the most-affected groups.
Progressives stress equity and access benefits
Likely supportive: this directs federal outreach to historically underserved small businesses and promotes access to capital.
Views the changes as modest steps to reduce structural barriers, though outcomes depend on implementation and resources.
Generally favorable but pragmatic: sees low-cost federal outreach as useful, provided it avoids duplication and shows measurable benefits.
Concerned about unfunded mandates and wants reporting and coordination to minimize waste.
Skeptical to moderately opposed: views the bill as federal activism favoring particular demographic groups and potentially expanding bureaucracy.
Might accept limited outreach but worries about mission creep and identity-based priorities.
Reached or meaningfully advanced
Reached or meaningfully advanced
Still ahead
Still ahead
Still ahead
Narrow, administrative, low-cost change that commonly wins bipartisan support; procedural Senate hurdles and missing cost clarity reduce certainty.
The House fast-tracked this bill — skipping normal debate — and it passed with a two-thirds majority. It now moves to the Senate.
Suspending the rules allows the House to bypass normal debate procedures and pass a bill immediately with a two-thirds vote.
Progressives stress equity and access benefits
Narrow, administrative, low-cost change that commonly wins bipartisan support; procedural Senate hurdles and missing cost clarity reduce ce…
Relative to its intended legislative type, this bill is a concise, well-targeted amendment that assigns additional outreach and collaboration duties to an existing statutory Advocate and integrates cleanly with the Secu…
Go beyond the headline summary with full stakeholder mapping, legislative design analysis, passage barriers, and lens-by-lens tradeoff breakdowns.