H.R.2799 — Expanding Access to Capital Act of 2023

House Roll Call

H.R.2799

Roll 78 • Congress 118, Session 2 • Mar 8, 2024 10:51 AM • Result: Passed

← Back to roll call list • View bill page • Clerk record • API source

BillH.R.2799 — Expanding Access to Capital Act of 2023
Vote questionOn Passage
Vote typeRecorded Vote
ResultPassed
TotalsYea 212 / Nay 205 / Present 0 / Not Voting 15
PartyYeaNayPresentNot Voting
R212007
D020508
I0000

Research Brief

On Passage

Bill Analysis

Bill Summary: HR 2799 - Expanding Access to Capital Act of 2023

The Expanding Access to Capital Act of 2023 (HR 2799) aims to enhance access to capital for small businesses, particularly those owned by underrepresented groups, including women, minorities, and veterans. The bill seeks to address barriers that these businesses face in securing funding, thereby promoting economic growth and job creation.

Key Provisions:

  • Funding Authorities: The bill authorizes the establishment of a new grant program administered by the Small Business Administration (SBA) to support community development financial institutions (CDFIs) and minority depository institutions (MDIs). This program will provide financial assistance to these institutions to expand their lending capabilities.
  • Technical Assistance: It mandates the SBA to provide technical assistance and training to small businesses, focusing on improving financial literacy, business planning, and access to resources.
  • Investment Incentives: The legislation proposes tax incentives for investors who support small businesses, particularly those in underserved markets, encouraging private investment in these sectors.

Agencies Affected: The primary agency impacted by this bill is the Small Business Administration (SBA), which will oversee the distribution of grants and technical assistance. Additionally, the bill may influence the operations of CDFIs and MDIs, which play a critical role in providing financial services to underserved communities.

Beneficiaries: The primary beneficiaries of this legislation are small businesses owned by women, minorities, and veterans, along with the CDFIs and MDIs that serve them. By improving access to capital, the bill aims to foster entrepreneurship and economic development in historically marginalized communities.

Key Timelines: Following its introduction, HR 2799 was received in the Senate, read twice, and referred to the Committee on Banking, Housing, and Urban Affairs for further consideration. The timeline for further action will depend on the committee’s review and subsequent legislative processes.

In summary, HR 2799 represents a significant effort to enhance capital access for small businesses in underserved communities, fostering economic equity and growth.

View bill source • Clerk record • API record

Yea (212)

K
Kelly Armstrong

ND • R • Aye

D
Dan Bishop

NC • R • Aye

L
Larry Bucshon

IN • R • Aye

M
Michael Burgess

TX • R • Aye

J
Jerry Carl

AL • R • Aye

L
Lori Chavez-DeRemer

OR • R • Aye

J
John Duarte

CA • R • Aye

J
Jeff Duncan

SC • R • Aye

A
A. Ferguson

GA • R • Aye

B
Brad Finstad

MN • R • Aye

M
Mike Gallagher

WI • R • Aye

M
Mike Garcia

CA • R • Aye

G
Garret Graves

LA • R • Aye

M
Mark Green

TN • R • Aye

D
Doug Lamborn

CO • R • Aye

J
Jake LaTurner

KS • R • Aye

D
Debbie Lesko

AZ • R • Aye

B
Blaine Luetkemeyer

MO • R • Aye

C
Celeste Maloy

UT • R • Aye

P
Patrick McHenry

NC • R • Aye

M
Marcus Molinaro

NY • R • Aye

G
Greg Pence

IN • R • Aye

C
Cathy Rodgers

WA • R • Aye

M
Matthew Rosendale

MT • R • Aye

M
Michelle Steel

CA • R • Aye

M
Michael Waltz

FL • R • Aye

B
Brad Wenstrup

OH • R • Aye

B
Brandon Williams

NY • R • Aye

Nay (205)

C
Colin Allred

TX • D • No

E
Earl Blumenauer

OR • D • No

J
Jamaal Bowman

NY • D • No

C
Cori Bush

MO • D • No

Y
Yadira Caraveo

CO • D • No

T
Tony Cárdenas

CA • D • No

A
André Carson

IN • D • No

M
Matt Cartwright

PA • D • No

G
Gerald Connolly

VA • D • No

A
Anna Eshoo

CA • D • No

J
Jeff Jackson

NC • D • No

D
Daniel Kildee

MI • D • No

D
Derek Kilmer

WA • D • No

A
Ann Kuster

NH • D • No

B
Barbara Lee

CA • D • No

K
Kathy Manning

NC • D • No

G
Grace Napolitano

CA • D • No

W
Wiley Nickel

NC • D • No

B
Bill Pascrell

NJ • D • No

D
Donald Payne

NJ • D • No

M
Mary Peltola

AK • D • No

D
Dean Phillips

MN • D • No

C
C. Ruppersberger

MD • D • No

J
John Sarbanes

MD • D • No

A
Abigail Spanberger

VA • D • No

E
Emilia Sykes

OH • D • No

D
David Trone

MD • D • No

J
Jennifer Wexton

VA • D • No

S
Susan Wild

PA • D • No

Not Voting (15)

K
Ken Buck

CO • R • Not Voting

B
Bob Good

VA • R • Not Voting

K
Kay Granger

TX • R • Not Voting

S
Sheila Jackson Lee

TX • D • Not Voting

A
Alexander Mooney

WV • R • Not Voting

K
Katie Porter

CA • D • Not Voting