House committee advances Gottheimer bills to protect seniors, aid small businesses, expand retirement options
WASHINGTON, D.C. — The House Financial Services Committee on Tuesday passed four bipartisan bills led by U.S. Rep. Josh Gottheimer (D-NJ) aimed at protecting seniors from financial scams, reducing red tape for small businesses, and improving retirement savings options for nonprofit employees, teachers, and nurses. The legislation now heads to the House floor for a full vote.
“Millions of seniors across the country, including my own mother, have been the victims of financial scams, and far too many have been cheated out of their retirement savings,” Gottheimer said in a statement. “We must protect our seniors’ retirement savings and make it easier for our small businesses to grow and thrive.”
The bills passed out of committee include:
- The Senior Security Act, which establishes a Senior Investor Task Force within the Securities and Exchange Commission to help prevent financial scams targeting older Americans.
- The Improving Access to Small Business Information Act, which aims to cut outdated regulatory red tape and improve federal data collection to better support small businesses.
- The Helping Angels Lead Our Startups (HALOS) Act, which clarifies federal securities laws to make it easier for startups to access capital and attract early investment.
- The Retirement Fairness for Charities and Educational Institutions Act, which ensures 403(b) retirement plans have access to the same low-cost investment options as other retirement plans.
“These bipartisan bills are a step forward to making Jersey an even better place to live, raise our families, and do business,” Gottheimer said.
