Congressman McHenry Weekly Update

May 22, 2016

Congressman McHenry Weekly Update

Ensuring Our Troops Have the Resources Needed

Yesterday was Armed Forces Day, providing all Americans the opportunity to say thanks to the men and women who serve and protect us from foreign enemies every day. We live in a dangerous world where Islamic extremists control significant portions of the Middle East and belligerent regimes like North Korea and Russia could threaten us at a moment's notice. Our troops must have the tools to defend us and this week the House voted to ensure that is the case with passage of the fiscal year 2017 National Defense Authorization Act (NDAA).

Our bill increases funding by $18 billion above President Obama's request, reforms the military's outdated acquisition system, and gives all our troops a much-deserved pay raise. In the face of a veto threat from President Obama, our NDAA passed with an overwhelming, bipartisan majority in the House. It is my hope President Obama will reconsider this misguided threat and join us in providing our troops with the resources they need to keep us safe. Learn more about what is in our NDAA here and view my statement on its passage below.

Democratizing Finance for All Americans

This past Monday marked a historic day for the democratization of finance as investment crowdfunding portals officially opened for business in the United States. In 2011, I wrote the initial legislation to legalize investment crowdfunding. My bill was eventually included in the JOBS Act of 2012 which President Obama signed into law.

While Monday was an important day for crowdfunding, more work must be done. After my ten page bill passed, Washington regulators wrote a nearly 700 page rule that has greatly limited the impact of investment crowdfunding. For it to truly be a resource for small businesses and entrepreneurs seeking capital to grow their businesses, we must pass my Fix Crowdfunding Act and unlock the true potential of investment crowdfunding. Learn more about that bill here and see my statement on Monday's launch below.

A Fiscally Responsible Response to the Zika Threat

The Zika virus that has ravaged South and Central America poses a serious threat to a significant portion of the United States. It is clear that Congress must react to the threat and this week the House did just that with passage of H.R. 5243, the Zika Response Appropriations Act of 2016. This legislation is a fiscally responsible reaction to the dangers posed by Zika. It uses funds previously allocated for use in combating the Ebola epidemic and reprograms them for use in fighting the spread of Zika. Our bill is fully paid for and ensures our federal government has the resources necessary to fight this virus. Learn more about our bill here.


	What I Have Been Reading
	New OT rules force small businesses to make hard choices *Associated Press* Again this week, we saw the Obama Administration act unilaterally in proposing new federal regulations. This time it dealt with rules on overtime pay for workers. As the story above outlines, these new rules will pose serious issues for small businesses including many here in western North Carolina. A n opportunity to fix crowdfunding before it falters *The Hill* For investment crowdfunding to truly succeed, we must fix the issues created by Washington bureaucrats. As the op-ed above outlines, the best way to do that is to pass my Fix Crowdfunding Act. Take a moment to read the piece above and learn how my bill will ensure investment crowdfunding realizes its true potential and helps entrepreneurs access the capital they need to grow their businesses. Belmont Abbey gets at-large berth in NCAA Division II tournament *Gaston Gazette* Congratulations to the baseball team at my alma mater Belmont Abbey College on receiving an at-large berth to the NCAA's Division II baseball tournament. This is the school's first appearance since 2009 and their seventh all-time. Best of luck to the Crusaders in the tourney!

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