This week

The House retuned this week to vote on four jobs bills that address real issues facing small business people and will help spur job creation right away.  Right now we cannot afford to wait.  I promise to support common sense legislation to help create jobs for the millions who are out of work.  I urge the Senator Harry Reid to take action on the 22 job-creating bills that are currently stalled in the Senate, many of which are supported by both the House and our President.

Honoring Fallen Marine Daniel L. Fedder

Pine City’s Master Sgt. Daniel L. Fedder was killed by the blast of an improvised explosive device Aug. 27, 2010 while supporting combat operations in Helmand Province, Afghanistan.  He was 34 years old.

Master Sgt. Fedder was a 16-year veteran of the Marine Corps., with completed combat deployments to Iraq in 2004 and 2006, and an overseas deployment with the 11th Marine Expeditionary Unit in 2007.  He was on his first combat tour in Afghanistan when he was lost in combat operations.  Master Sgt. Daniel Fedder was assigned to the 7th Engineer Support Battalion, 1st Marine Logistics Group, I Marine Expeditionary Force out of Camp Pendleton, Calif.

To demonstrate my gratitude and honor for this courageous fallen marine, I recently introduced H.R. 3220.  The bill is co-sponsored by the entire Minnesota Congressional Delegation.  If enacted, this legislation would designate the facility of the United States Postal Service located at 170 Evergreen Square SW in Pine City, Minnesota, as the "Master Sergeant Daniel L. Fedder Post Office."

Yesterday, the House Committee on Oversight and Government Reform unanimously agreed to H.R. 3220 and discharged the bill to the House for consideration.

October Jobs Report

Stuck at 9%, joblessness in the United States continues to burden American families as the holiday season nears.  We must do better.  I am committed to pro-jobs, pro growth policies aimed toward removing government barriers to private-sector job creation and ending the uncertainty facing businesses so we can put Minnesotans back to work.  Both parties must find common ground on job creation without increasing our national debt.

I’m proud to have supported 22 House-passed bipartisan jobs bills that await action in the Senate, which included supporting the President’s plan to address the 3% withholding rule as well as the President’s proposed legislation to provide small businesses greater ability to raise capital from a broader range of investors. 

Entrepreneur Access to Capital Act

Passed by the House this week with bi-partisan support, H.R. 2930, introduced by Rep. Patrick McHenry, removes SEC restrictions that prevent “crowdfunding” so entrepreneurs can raise equity capital from a large pool of small investors who may or may not be considered “accredited” by the SEC. The bill allows companies to pool up to $1 million without registering with the SEC or up to $2 million if the company provides investors with audited financial statements.  Individual contributions are limited to $10,000 or 10 percent of the investor’s annual income, whichever is less.

“Crowdfunding” is an innovative and popular method of capital formation. This technique allows individuals to pool money to fund businesses. Unfortunately, current SEC rules, such as the prohibition against general solicitation and restrictions on the number of shareholders for private companies, are a barrier to “crowdfunding.”

Access to Capital For Job Creators Act

Also passed by the House this week with bi-partisan support, H.R. 2940, introduced by Rep. Kevin McCarthy (R-CA), removes the regulatory ban that prevents small, privately held companies from using advertisements to solicit investors.  An SEC regulation allows companies to raise capital as long as they do not market their securities through general solicitations or advertising. This prohibition has been interpreted to mean that potential investors must have an existing relationship with the company. Requiring potential investors to have an existing relationship with the company unnecessarily limits the pool of investors and severely restricts the ability of small companies to raise equity capital.

Mobile Offices

Each week, members of my staff will head out from my three district offices in North Branch, Duluth and Brainerd to hold what are known as mobile offices.  If you have a question about federal benefits or a question regarding your dealings with a federal agency, please stop by at the given locations at the times listed so you can speak with one of my staff.  The list of mobile offices for next Thursday, November 10 can be found here.  As always, you can also reach my casework staff by phone at (651) 237-8220, or toll free at 1-888-563-7390.

Commitment to Constituent Outreach

It is my duty to provide my 8^thDistrict constituents unprecedented access to their representative to Washington.  To date, this responsibility has amounted to twelve public town hall meetings, five senior town hall meetings, nine tele-town halls, mobile offices in over 120 different cities, numerous roundtable discussions, and three permanent district offices where we conduct office hours – anyone is able schedule an appointment.  My primary focus is to create more jobs for the 8th District; I look forward to continuing this conversation with my constituents.

Social Media

One of the best ways you can keep up to speed with what I’m doing in Congress is through social media. I encourage you to follow me on Facebook and on Twitter.

Rest assured, I will remain an independent, conservative voice in Washington; I promise to uphold the fiscally conservative principles the people of the 8^th District entrusted upon me.  It is a privilege serving you as your elected representative to Congress.

Very truly yours,

 

Chip