H.R.2799 — Expanding Access to Capital Act of 2023
House Roll Call
H.R.2799
| Bill | H.R.2799 — Expanding Access to Capital Act of 2023 |
|---|---|
| Vote question | On Motion to Recommit |
| Vote type | Yea-and-Nay |
| Result | Failed |
| Totals | Yea 205 / Nay 213 / Present 0 / Not Voting 14 |
| Party | Yea | Nay | Present | Not Voting |
|---|---|---|---|---|
| R | 0 | 213 | 0 | 6 |
| D | 205 | 0 | 0 | 8 |
| I | 0 | 0 | 0 | 0 |
Research Brief
On Motion to Recommit
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 and entrepreneurs, particularly those in underserved communities. The bill seeks to address barriers that hinder these groups from obtaining financing, thereby promoting economic growth and innovation.
Key Provisions: HR 2799 proposes 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 would provide funding for capacity-building initiatives, enabling these institutions to better serve small businesses owned by minorities, women, and veterans.
The bill also seeks to streamline the application process for small business loans, ensuring that the requirements are less burdensome and more accessible. It encourages collaboration between the SBA and private sector lenders to create tailored financial products that meet the unique needs of diverse entrepreneurs.
Funding and Authorities: The legislation authorizes appropriations for the grant program, although specific funding levels are not detailed in the text. The SBA is tasked with overseeing the implementation of the program and ensuring compliance with its objectives.
Agencies Affected: The primary agency impacted by this bill is the Small Business Administration, alongside CDFIs and MDIs, which are critical in providing financial services to underserved populations.
Beneficiaries: The bill primarily benefits small business owners, particularly those from historically marginalized communities, by increasing their access to capital. Additionally, it supports CDFIs and MDIs in enhancing their operational capabilities.
Key Timelines: As of the latest action, HR 2799 has been received in the Senate, where it has been read twice and referred to the Committee on Banking, Housing, and Urban Affairs for further consideration. The timeline for subsequent actions or votes remains to be determined.
In summary, HR 2799 represents a legislative effort to foster economic inclusivity by improving access to financial resources for small businesses in underserved areas.
Yea (205)
C
Colin Allred
E
Earl Blumenauer
J
Jamaal Bowman
C
Cori Bush
Y
Yadira Caraveo
T
Tony Cárdenas
M
Matt Cartwright
G
Gerald Connolly
J
Jason Crow
L
Lloyd Doggett
A
Anna Eshoo
R
Ruben Gallego
J
John Garamendi
J
Jeff Jackson
D
Daniel Kildee
D
Derek Kilmer
A
Ann Kuster
B
Barbara Lee
K
Kathy Manning
L
Lucy McBath
G
Grace Napolitano
W
Wiley Nickel
B
Bill Pascrell
D
Donald Payne
M
Mary Peltola
D
Dean Phillips
C
C. Ruppersberger
J
John Sarbanes
A
Abigail Spanberger
E
Eric Swalwell
R
Rashida Tlaib
D
David Trone
N
Nydia Velázquez
D
Debbie Wasserman Schultz
J
Jennifer Wexton
S
Susan Wild
Nay (213)
K
Kelly Armstrong
D
Dan Bishop
L
Larry Bucshon
M
Michael Burgess
K
Ken Calvert
J
Jerry Carl
L
Lori Chavez-DeRemer
A
Anthony D'Esposito
J
John Duarte
J
Jeff Duncan
A
A. Ferguson
S
Scott Franklin
M
Matt Gaetz
M
Mike Gallagher
M
Mike Garcia
B
Bob Good
G
Garret Graves
M
Mark Green
D
Doug Lamborn
J
Jake LaTurner
D
Debbie Lesko
B
Blaine Luetkemeyer
L
Lisa McClain
P
Patrick McHenry
M
Marcus Molinaro
G
Greg Pence
B
Bill Posey
C
Cathy Rodgers
M
Matthew Rosendale
J
John Rutherford
D
David Schweikert
P
Pete Sessions
M
Michelle Steel
M
Michael Waltz
B
Brad Wenstrup
B
Brandon Williams
Not Voting (14)
K
Ken Buck
K
Kay Granger
R
Raúl Grijalva
S
Sheila Jackson Lee
A
Alexander Mooney
K
Katie Porter
