Sens. Pete Ricketts, R-Neb., and Ruben Gallego, D-Ariz., are introducing a bill today, shared first with Semafor, that would make it easier to invest in startups by letting them discuss their products at events like demo days.
The rollout comes as the House, which advanced a similar measure earlier this year, prepares to vote on a capital markets package next week. “Entrepreneurs … shouldn’t be stifled by red tape when trying to share their ideas,” Ricketts said.
Senators expect the Banking Committee to take up the issue after it advances cryptocurrency legislation, people familiar with the talks said; Ricketts and Gallego hope their bill could make it into a bipartisan bundle of bills akin to the panel’s housing package.
It’s unclear whether ranking member Sen. Elizabeth Warren, D-Mass., would sign off on such a package after long raising concerns that the measures could endanger consumers.