CONGRESSMAN JOE MORELLE DELIVERS SUPPORT FOR ROCHESTER’S BUSINESS COMMUNITY

(Washington, D.C.)—Today, Congressman Joe Morelle announced he has voted in favor of legislation to help bolster Rochester’s business community. The Incentivizing New Ventures and Economic Strength Through Capital Formation (INVEST) Act is bipartisan legislation designed to expand opportunities for investment and give small businesses the support they need to thrive.

“Small businesses are the cornerstone of our economy—providing good-paying jobs for families and high-quality goods and services to our neighborhoods,” said Congressman Joe Morelle. “I was proud to help pass the bipartisan INVEST Act to help ensure our small businesses continue to receive the full support they deserve from their government. I urge my colleagues in the U.S. Senate to swiftly consider this legislation, and I look forward to seeing it passed into law.”

For years, outdated capital-formation rules have restricted investment access to only the wealthiest individuals while leaving small businesses and startups—especially those located outside major U.S. cities—struggling to raise growth capital. At the same time, the number of U.S. public companies has fallen dramatically, limiting opportunities for both entrepreneurs and investors. The INVEST Act responds to these structural barriers by modernizing regulations to expand investment access and strengthen America’s capital markets.

Specifically, the INVEST Act would:

• Expand the accredited-investor definition to allow qualification through demonstrated financial knowledge, credentials, or experience—not just wealth.
• Increase the allowable size and investor count of certain venture-capital funds to channel more capital into early-stage businesses.
• Open additional private-market and regulated investment options to retirement savers by aligning 403(b) plans with choices already available in 401(k)s.
• Create dedicated SEC small-business offices to identify barriers, streamline processes, and improve coordination across capital-formation divisions.

Congressman Morelle’s support for this legislation is just the latest in his long-standing commitment to uplifting small businesses and ensuring Rochester’s economy can thrive. To learn more about his work, visit his website here.

For more on the INVEST Act, please see this one-pager from the House Committee on Financial Services.

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