In the first session of the 113th Congress, ACG continues to generate key relationships with members of the House and Senate, as well as evolve into an important resource for congressional members and their staffs on key issues that impact financial services and the middle market.
Most recently, members of ACG visited Washington, D.C., to inform key members of the House Financial Services Committee, Senate Finance Committee and Senate Budget Committee about the role and impact ACG’s members have on the economic growth of the middle market. These meetings also allowed ACG to emerge as a critical resource for future policymaking discussions. ACG was even asked to prepare questions for a member of the House Financial Services Committee for a hearing where SEC Chairman Mary Jo White testified.
Additionally, the House Financial Services Subcommittee on Capital Markets and Government-Sponsored Enterprises held a hearing May 23 to consider H.R. 1102, the Small Business Capital Access and Preservation Act, a bill that would amend the Investment Advisors Act of 1940 to provide a registration exemption for private equity fund advisers as imposed by Dodd-Frank. The bill was reintroduced in the House on March 13, 2013, by Rep. Robert Hurt, R-Va., and co-sponsored by Reps. James Himes, D-Conn., and Rep. Jim Cooper, R-Tenn. In the previous Congress, the bill was approved by the full House Financial Services Committee on a bipartisan voice vote in the last Congress. ACG continues to serve as a resource to Rep. Hurt’s office as his staff works to obtain support for a Senate companion bill.
Throughout the summer, Congress will continue to consider many other issues that impact middle-market private equity professionals, such as comprehensive business tax reform and the continued implications of Dodd-Frank and the JOBS Act. ACG will continue to champion these important policies as well as other key items on ACG’s first-ever public policy agenda.