On Wednesday, November 13, ACG’s National Capital chapter held a special panel discussion and reception with two local Members of Congress, Congressman John Delaney (D-MD) and Congressman Robert Hurt (R-VA). Both Members serve on the important House Financial Services Committee and are considered rising stars in Congress because of their expertise and knowledge of financial services issues.
ACG members who were able to participate at this one-of-a-kind event enjoyed a networking reception then heard from both members about policies that were top-of-mind for the committee. Important policies such as continued Dodd-Frank implementation, tax reform and the ongoing budget dispute were discussed. Specific items, such as legislation introduced by Rep. Hurt, which would exempt private equity funds from registering with the SEC, was also discussed. While the Members had different viewpoints about the impact private equity has in terms of systemic risk to our global financial systems, both Members acknowledged and celebrated the fact that middle-market private equity provides jobs and adds to the health of the U.S. economy.
ACG members were able to hold a lengthy Q&A discussion with Reps. Delaney and Hurt and provided questions on topics such as potential changes to the tax treatment of carried interest and limiting interest deductibility in tax reform. ACG members also inquired on legislation that would regulate small merger and acquisition (M&A) brokers and changes to the SBIC programs.
The time ACG members spent with these important Members of Congress was invaluable. In addition to talking policy, the Members reiterated the need for ACG and the middle-market to have a voice on Capitol Hill. Both Members applauded ACG Global’s recent policy efforts and encouraged ACG members to duplicate these important events at other Chapters across the United States.
Originally Published in Middle Market Voice