Delaware’s lone Congressional Rep. Sarah McBride passes her first bill in the U.S. House ahead of a month-long legislative break.
Congresswoman McBride is co-leading the Equal Opportunity for All Investors Act, a bipartisan initiative to change the definition of an “accredited investor” to allow more individuals to qualify for private investment opportunities.
Under current federal law, participation in private capital markets is restricted to individuals with over $1 million in net worth or an annual income over $200,000.
The act would establish a new pathway for investors to qualify based on demonstrated financial knowledge.
“Right now, only millionaires can invest in these markets — that shuts out everyday Americans, especially women, veterans and people of color," Congresswoman McBride said. "We need a system where a Black woman in Wilmington or a veteran in Georgetown has the same chance to build wealth as someone on Wall Street."
She says the Delaware Black Chamber of Commerce signaled support for the bill, arguing it would help close the capital gap for diverse business owners.
“In Delaware, I've heard from veteran entrepreneurs, with women business owners who are locked out, not because they lack knowledge, but because they can't get investment. And it's not because of who they are, it's because of who they don't know.”
The bill passed unanimously in the House and Congresswoman McBride says she is hopeful the same bipartisan support for the legislation will be found in the Senate, leading to the bill ultimately becoming law.
Congress just entered a month-long break before it returns to attempt to pass a federal budget before the end of the fiscal year on September 30.
Congresswoman McBride says she will continue to fight back against federal funding cuts being pushed by the Trump administration but remains open to working with Republican colleagues who are willing to work with her.
"It is my job to defend Delaware and to deliver for Delaware, and I won't stop doing both of those things. Right now we are seeing dangerous attacks on the health, the economic well-being of Delawareans by Republicans in Congress and the Trump administration," the congresswoman said. "I will not stop fighting like hell to defend our rural hospitals, to defend health coverage for Delawareans. I will continue to fight for hungry families in Delaware to be able to put food on the table. I'll continue to fight for our schools and our first responders to have the resources that they need, that too often, they don't get."
