WASHINGTON – Sen. John Kennedy (R-La.), a member of the Senate Banking Committee, today introduced the Expanding Access to Capital for Rural Job Creators Act to help remove the hurdles that rural small businesses face when they try to access capital.

“Small businesses keep Louisiana’s economy running, and Congress should make sure our rural entrepreneurs aren’t facing unnecessary hurdles to securing capital. Our bill would help rural job creators get their businesses off the ground and better serve American communities,” said Kennedy.

The bill would amend the Securities Exchange Act of 1934 to require the Securities and Exchange Commission Office of the Advocate for Small Business Capital Formation to submit an annual report on the unique challenges rural businesses face when trying to secure capital. These reports would allow Congress to better weigh legislative action to expand small businesses’ access to capital.

Sens. Gary Peters (D-Mich.), Raphael Warnock (D-Ga.) and Shelley Moore Capito (R-W.Va.) cosponsored the bill.

Kennedy previously introduced the Expanding Access to Capital for Rural Job Creators Act in the 117th and 118th Congresses. The Senate passed the bill in the 118th Congress.

The full bill text is available here.