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

House Roll Call

H.R.2799

Roll 72 • Congress 118, Session 2 • Mar 7, 2024 2:32 PM • Result: Failed

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

BillH.R.2799 — Expanding Access to Capital Act of 2023
Vote questionOn Agreeing to the Amendment
Vote typeRecorded Vote
ResultFailed
TotalsYea 203 / Nay 223 / Present 0 / Not Voting 11
PartyYeaNayPresentNot Voting
R021506
D203805
I0000

Research Brief

On Agreeing to the Amendment

Bill Analysis

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

The Expanding Access to Capital Act of 2023 aims to enhance access to capital for small businesses and underserved communities by modifying existing regulations and creating new funding opportunities. Specifically, the bill seeks to improve the ability of small businesses to secure financing through various means, including community development financial institutions (CDFIs) and minority depository institutions (MDIs).

Key Provisions:

  • The bill authorizes the establishment of a new grant program administered by the Department of the Treasury to support CDFIs and MDIs. This program is designed to increase their capacity to provide loans and financial services to small businesses, particularly those owned by minorities and women.
  • It proposes to streamline the application process for small businesses seeking loans, thereby reducing barriers to entry and expediting funding.
  • The legislation also encourages partnerships between traditional financial institutions and CDFIs/MDIs to facilitate better access to capital for underserved populations.

Funding and Authorities: The bill allocates funding through appropriations to support the new grant program and enhance the operational capabilities of CDFIs and MDIs. The exact funding levels will be determined through the appropriations process, but the bill emphasizes the importance of federal investment in these institutions.

Affected Programs and Agencies: The primary agencies involved include the Department of the Treasury, which will oversee the grant program, and the Small Business Administration (SBA), which may play a role in facilitating access to capital for small businesses.

Beneficiaries: The primary beneficiaries of this legislation are small businesses, particularly those owned by individuals from historically marginalized communities, as well as CDFIs and MDIs that serve these populations.

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 subsequent actions will depend on committee reviews and potential amendments before any further legislative action occurs.

View bill source • Clerk record • API record

Yea (203)

C
Colin Allred

TX • D • Aye

E
Earl Blumenauer

OR • D • Aye

J
Jamaal Bowman

NY • D • Aye

C
Cori Bush

MO • D • Aye

Y
Yadira Caraveo

CO • D • Aye

T
Tony Cárdenas

CA • D • Aye

M
Matt Cartwright

PA • D • Aye

G
Gerald Connolly

VA • D • Aye

J
Jason Crow

CO • D • Aye

L
Lloyd Doggett

TX • D • Aye

A
Anna Eshoo

CA • D • Aye

R
Ruben Gallego

AZ • D • Aye

J
John Garamendi

CA • D • Aye

J
Jeff Jackson

NC • D • Aye

S
Sheila Jackson Lee

TX • D • Aye

D
Daniel Kildee

MI • D • Aye

D
Derek Kilmer

WA • D • Aye

A
Ann Kuster

NH • D • Aye

B
Barbara Lee

CA • D • Aye

K
Kathy Manning

NC • D • Aye

L
Lucy McBath

GA • D • Aye

G
Grace Napolitano

CA • D • Aye

W
Wiley Nickel

NC • D • Aye

B
Bill Pascrell

NJ • D • Aye

D
Donald Payne

NJ • D • Aye

M
Mary Peltola

AK • D • Aye

D
Dean Phillips

MN • D • Aye

C
C. Ruppersberger

MD • D • Aye

G
Gregorio Sablan

MP • D • Aye

J
John Sarbanes

MD • D • Aye

A
Abigail Spanberger

VA • D • Aye

E
Eric Swalwell

CA • D • Aye

R
Rashida Tlaib

MI • D • Aye

D
David Trone

MD • D • Aye

N
Nydia Velázquez

NY • D • Aye

D
Debbie Wasserman Schultz

FL • D • Aye

J
Jennifer Wexton

VA • D • Aye

S
Susan Wild

PA • D • Aye

Nay (223)

K
Kelly Armstrong

ND • R • No

D
Dan Bishop

NC • R • No

L
Larry Bucshon

IN • R • No

M
Michael Burgess

TX • R • No

K
Ken Calvert

CA • R • No

J
Jerry Carl

AL • R • No

L
Lori Chavez-DeRemer

OR • R • No

A
Anthony D'Esposito

NY • R • No

J
John Duarte

CA • R • No

J
Jeff Duncan

SC • R • No

A
A. Ferguson

GA • R • No

S
Scott Franklin

FL • R • No

M
Matt Gaetz

FL • R • No

M
Mike Gallagher

WI • R • No

M
Mike Garcia

CA • R • No

B
Bob Good

VA • R • No

G
Garret Graves

LA • R • No

M
Mark Green

TN • R • No

D
Doug Lamborn

CO • R • No

J
Jake LaTurner

KS • R • No

D
Debbie Lesko

AZ • R • No

B
Blaine Luetkemeyer

MO • R • No

L
Lisa McClain

MI • R • No

P
Patrick McHenry

NC • R • No

M
Marcus Molinaro

NY • R • No

A
Alexander Mooney

WV • R • No

G
Greg Pence

IN • R • No

B
Bill Posey

FL • R • No

C
Cathy Rodgers

WA • R • No

M
Matthew Rosendale

MT • R • No

J
John Rutherford

FL • R • No

D
David Schweikert

AZ • R • No

P
Pete Sessions

TX • R • No

M
Michelle Steel

CA • R • No

M
Michael Waltz

FL • R • No

B
Brad Wenstrup

OH • R • No

B
Brandon Williams

NY • R • No

Not Voting (11)

K
Ken Buck

CO • R • Not Voting

J
Jenniffer González-Colón

PR • R • Not Voting

K
Kay Granger

TX • R • Not Voting

R
Raúl Grijalva

AZ • D • Not Voting

K
Katie Porter

CA • D • Not Voting