In February 2012, Handler Thayer, LLP attorney Christine E. McKillip prepared a summary of the various crowdfunding bills under consideration and noted that the legislative process has slowed in the Senate as competing visions and various political interests are hashed out.
This week, Senate Majority Leader Harry Reid announced that the Senate would move forward on bills “to spur small-business growth” by streamlining rules on capital-raising while still protecting investors. According to Portolio.com, momentum appears to be building in favor of a crowdfunding bill for which President Obama has already expressed support.
As the voting season approaches and Congress battles the perception of deadlock, will a crowdfunding bill finally become law? CrowdFunds.com is watching!