Tenney backs measure for startups

Published Jan 11, 2017 at 4:00pm

Rep. Claudia L. Tenney, R-22, New Hartford, voted Tuesday for a measure to help startup companies access early capital.

The Helping Angels Lead Our Startups Act passed in the House of Representatives by a 344-73 margin.

The legislation removes a regulatory burden that requires angel investors to complete certain paperwork before attending showcase events that are intended to introduce entrepreneurs and investors.

“The HALOS Act works to cut red tape and roll back burdensome regulations, giving entrepreneurs looking to start or grow a business the chance to easily connect with investors,” said Tenney.

“This important piece of legislation will help support our business community in the 22nd district by rolling back Washington’s excessive regulations, giving startup businesses easier access to capital and credit,” the freshman representative added.

She added, “True economic growth begins by cutting costly regulations and allowing small businesses to flourish.”