Congressman Denver Riggleman's "Expanding Access to Capital for Rural Job Creators Act" passes unanimously through the House Financial Services Committee

May 9, 2019
Press Release

WASHINGTON - The bipartisan H.R. 2409  "Expanding Access to Capital for Rural Job Creators Act" passed unanimously through the House Financial Services Committee today.  This bill will make it easier for people in rural parts of America and the 5th District to gain access to capital and investments. 

"According to Census data from 2017 1 in 5 Americans live in a rural area.  For my district, the 5th district of Virginia, approximately 65% of the population resides in a rural area, said Congressman Riggleman. "I think these people deserve the same access to the financial system as urban dwellers and urban businesses."

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Congressman Riggleman was an original cosponsor of the bill along with  Congresswoman Cindy Axne (D-IA), Congressmen Alex Mooney (R-WV), and John Rose (R-TN) to address the need for access to capital in rural communities that have traditionally been under banked. The bill will now head to a vote of the whole House of Representatives.

You can watch the full committee hearing here, and a full transcript of Congressman Riggleman's remarks can be found below.


Thank you Madam Chairwoman.  I would like to also thank my colleagues Representative Axne and Representative Mooney for introducing this legislation. 

This bill will expand the mission of the SEC Advocate for Small Business Capital Formation to identify the unique challenges facing rural small businesses.  

As someone who, along with my wife has started a distillery business in the rural part of Virginia I can attest first hand how difficult it can be, but also how rewarding the experience is. 

According to Census data from 2017 1 in 5 Americans live in a rural area.  For my district, the 5th district of Virginia, approximately 65% of the population resides in a rural area.  I think these people deserve the same access to the financial system as urban dwellers and urban businesses.    

This bill will allow the SEC to help job creators and improve rural economies across the country.  I look forward to working with the SEC and my colleagues in across to accomplish this mission.  For these reasons and many more I strongly support this legislation and urge everyone else to do the same.

Thank you and I yield back the balance of my time.