House Passes INVEST Act with Bipartisan Support
The U.S. House of Representatives passed the Incentivizing New Ventures and Economic Strength Through Capital Formation (INVEST) Act late last week with bipartisan support. The legislation was approved with the backing of all House Republicans and 87 Democrats.
The INVEST Act was advanced by House Financial Services Committee Chairman French Hill (R-Ark.), along with Representatives Ann Wagner (R-Mo.), Gregory Meeks (D-N.Y.) and Josh Gottheimer (D-N.J.).
As previously reported, the legislation incorporates several policy provisions long supported by the Institute for Portfolio Alternatives (IPA). These include reforms to the accredited investor framework, measures to support capital formation for growing businesses, expanded access to private markets and increased flexibility for retirement plan investments, among other provisions.
IPA members also participated in grassroots outreach efforts ahead of the House vote, engaging with lawmakers to provide education on capital formation policy and the potential impact of the INVEST Act.
Following House passage, the legislation now moves to the U.S. Senate for consideration. IPA will continue to engage with policymakers and stakeholders as the legislative process moves forward.
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