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Garrett-Sponsored Community Counterterrorism Bill Passes House

Ahmad Khan Rahami

NYC bombing suspect arrested in NJ

September 22,2016

the staff of the Ridgewood blog

Ridgewood NJ, Rep. Scott Garrett (NJ-05) issued the following statement after the House passed H.R. 5859, the Community Counterterrorism Preparedness Act, a bill that Garrett co-sponsored and supported:

“With bombs detonating in New Jersey and New York this week, the first line of defense against terrorism continues to be police officers, firefighters, and emergency medical services professionals. To better prepare these men and women on the front lines,tonight the House passed the Community Counterterrorism Preparedness Act, a bill that I co-sponsored and supported, that will provide additional training for emergency responders to prevent or respond to terrorist attacks in high risk areas like New Jersey and New York.”

Key points of the Community Counterterrorism Preparedness Act include (courtesy of the Homeland Security Committee):

  • The bill authorizes $39 million for emergency response providers in major metropolitan areas to conduct training and exercises to prevent, prepare for, and respond to the most likely terrorist attack scenarios, including active shooters.
  • Eligible recipients include emergency response providers, including law enforcement, fire fighters, EMS, and emergency management in any jurisdiction that currently receives Urban Area Security Initiative (UASI) funding and any jurisdiction that previously received UASI funding.

Full text of the bill can be found here.

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Garrett Bill to Make it easier for American Innovators to Raise Money Passes House

Scott Garrett Bergen County
September 8,2016

the staff of the Ridgewood blog

WASHINGTON, D.C. – Today the House passed a legislative package to help American innovators access capital that included Rep. Scott Garrett’s (NJ-05) Private Placement Improvement Act. The Accelerating Access to Capital Act, H.R. 2357, is a package of three bills that will help level the playing field and make it possible for small businesses to raise capital by lessening the burdens of complex and costly securities regulations imposed by Washington. Garrett is Chairman of the Financial Services Subcommittee on Capital Markets and Government-Sponsored Enterprises.

“If we want bigger paychecks and more opportunity in New Jersey, it starts with ending the excessive regulations from Washington that are hurting our economy,” said Garrett. “Instead of clearing a path for success, federal regulations cost small businesses with less than 20 employees 45 percent more per employee than their larger counterparts, essentially stepping on innovators at a time when they are most vulnerable.

“The Accelerating Access to Capital Act recognizes that having one-size-fits-all federal regulations that make no distinction between someone just starting out and some of the biggest companies in the world is inherently unfair. We can, and must, level this playing field by tailoring regulations to smaller businesses to help the next great American success story. Today’s vote was a good first step.”

The Private Placement Improvement Act would prohibit the Securities and Exchange Commission (SEC) from implementing onerous requirements on companies that raise capital through private channels. Despite statutory requirements to promote capital formation, the SEC has largely failed to prioritize streamlining regulations that could help small companies access investment capital.