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

House Roll Call

H.R.2799

Roll 76 • Congress 118, Session 2 • Mar 8, 2024 10:35 AM • 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 206 / Nay 217 / Present 0 / Not Voting 15
PartyYeaNayPresentNot Voting
R021507
D206208
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 funding opportunities for small businesses and underserved communities by creating a framework for increased access to capital. The bill proposes several key measures to facilitate investment and support economic growth.

Key Provisions:

  1. Investment Incentives: The bill establishes tax incentives for investors who contribute capital to small businesses, particularly those owned by women, minorities, and veterans. This includes tax credits for investments made in qualified businesses, thereby encouraging private investment in these sectors.

  2. Community Development Financial Institutions (CDFIs): HR 2799 allocates funding to CDFIs, which play a crucial role in providing financial services to low-income and underserved communities. The bill seeks to increase the capital available to these institutions, enabling them to offer more loans and financial products to small businesses.

  3. Support for Innovation: The legislation proposes the creation of a Small Business Innovation Fund, which will provide grants and low-interest loans to startups and small businesses engaged in innovative projects. This fund aims to stimulate technological advancement and entrepreneurship.

  4. Regulatory Relief: The bill includes provisions to streamline regulatory processes for small business financing, reducing barriers that hinder access to capital.

Funding and Authorities: The bill authorizes appropriations for the CDFIs and the Small Business Innovation Fund, with specific funding levels to be determined during the appropriations process.

Beneficiaries: The primary beneficiaries of this legislation include small businesses, particularly those in marginalized communities, investors seeking tax incentives, and CDFIs that provide essential financial services.

Timeline: 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 legislative process will continue with potential hearings and amendments before a vote.

This legislation represents a concerted effort to bolster economic opportunities for small businesses and enhance access to capital across diverse communities.

View bill source • Clerk record • API record

Yea (206)

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

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 (217)

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

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 (15)

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

S
Sheila Jackson Lee

TX • D • Not Voting

A
Alexander Mooney

WV • R • Not Voting

K
Katie Porter

CA • D • Not Voting