Chief Deputy Whip Patrick McHenry (NC-10), Vice Chairman of the House Financial Services Committee, released the following statement on House passage of the bipartisan S. 488, JOBS and Investor Confidence Act of 2018:

"Small businesses and entrepreneurs are America’s true job creators, especially in communities like those I represent in western North Carolina. But for too long, these businesses have been starved of capital preventing them from growing and creating good-paying jobs in small and mid-size communities nationwide," said Congressman McHenry.

"The JOBS and Investor Confidence Act changes this by supporting innovative new forms of capital formation like investment crowdfunding, which—in the proper regulatory climate—can become a vital tool for entrepreneurs and small businesses," McHenry continued. "Today’s bipartisan passage of this legislation is another important step in the House’s ongoing work to support American small businesses and entrepreneurs."

Included in the JOBS and Investor Confidence Act is H.R. 6380, Crowdfunding Amendments Act, which was introduced by McHenry. The Crowdfunding Amendments Act allows crowdfunding investors to pool their money together into a fund that is advised by a registered investment advisor.