releases: https://riggleman.house.gov/media/press-releases/congressman-denver-riggleman-delivers-speech-defending-capitalism
Data license: MIT · Data source: dwillis/congress-press
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| https://riggleman.house.gov/media/press-releases/congressman-denver-riggleman-delivers-speech-defending-capitalism | Congressman Denver Riggleman Delivers Speech Defending Capitalism | 2019-11-20 | 2019 | 2019-11 | Republican | House | VA | Denver Riggleman | R000611 | riggleman.house.gov | legacy | Washington, D.C. -Congressman Denver Riggleman delivered a speechon the floor of the House of Representatives todaydefending capitalism and standing up for small business owners. The speech followed a House Financial Services Committee hearing in which members discussed the role of private equity and its impact on the American economy. "As a small business owner who benefitted from private equity when growing my business," said Congressman Riggleman."I know the value of these type of organizations that provide support, and really give a way forward for companies trying to grow." Riggleman referenced H.R. 3848, a bill introduced by Rep. Mark Pocan (D-WI) as a companion piece to Sen. Elizabeth Warren's bill. The bill would add regulatory cost to business owners. Areportpublished by the U.S. Chamber of Commercefound that in a modest-case scenario,H.R.3848 would cost the U.S. approximately 6 million jobs and lead to $109 billion per year in lower tax revenue. You can watch Congressman Riggleman's speechhere, and a full transcript can be found below. Thank you madam speaker, I rise today to speak in favor of the American Dream. In favor of the bedrock of what has made America: capitalism. Yesterday while every cable news channel was transfixed by the intelligence committee, the financial services committee was discussing a bill that strikes at the heart of American capitalism. H.R.3848, the companion legislation to Elizabeth Warren's Stop Wall Street Looting Act, would add regulatory costs and harm job creators. It has a pithy title that is unfortunately misleading in purpose. I prefer to call it the Stop Entrepreneurship act. This bill would curb private investments in main street companies which would kill jobs, stifle innovation, harm consumers, and strike a major blow to the hallmark of capitalism. According to the US Chamber of Commerce, even a modest scenario would result in a loss of 6.2 million to 22.3 million jobs across the country. As a small business owner who benefitted from private equity when growing my business, I know the value of these type of organizations that provide support, and really give a way forward for companies trying to grow. I yield back my time. | 1 | 2026-03-30T12:14:52Z | 2026-03-30T12:14:52Z |