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Financial Services

Arizona’s financial sector plays a critical role in growing the economy and bringing jobs to our state. Entrepreneurs know that Arizona is one of the best places in the country to start a business, and as a Co-Chair of the Congressional Entrepreneurship Caucus, it is one of my highest priorities to help foster a hyper-efficient economy in our state. 

For too long, the elites in Washington have forced a top-down bureaucratic regulatory regime onto the backs of American entrepreneurs. This creates a corrupt system that protects favored incumbents and props up easier to manipulate institutions. However, with the advent of modern peer-to-peer technology, we have an opportunity to return to America’s entrepreneurial roots.

I have authored a bill that has been introduced the past three session of Congress to change how the government defines “accredited investors.” The current definition only takes wealth into account, allowing those with enough money to participate in special investment opportunities nationwide. The Fair Investment Opportunities for Professional Experts Act would change the definition to also include professional sophistication as an alternative metric to attain accredited investor status. This legislation passed the House of Representatives the past two sessions of Congress with overwhelmingly broad bipartisan support.

The financial services sector also has the unique opportunity to embrace technological advancements to make the industry more efficient. As Co-Chair of the Congressional Blockchain Caucus, I believe that blockchain will revolutionize how modern financial ownership is proven, and I am committed to efforts that will help educate the industry on the importance of fintech to economic growth.

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[[{“fid”:”1817″,”view_mode”:”default”,”fields”:{“alt”:”a”,”class”:”media-element file-congress-small”,”data-delta”:”2″,”format”:”default”,”field_file_image_alt_text[und][0][value]”:”a”},”link_text”:null,”type”:”media”,”field_deltas”:{“2”:{“alt”:”a”,”class”:”media-element file-congress-small”,”data-delta”:”2″,”format”:”default”,”field_file_image_alt_text[und][0][value]”:”a”}},”attributes”:{“alt”:”a”,”class”:”media-element file-default”,”data-delta”:”2″}}]] WASHINGTON, DC – Today, Rep. David Schweikert (AZ-06), along with Reps. French Hill (AR-02) and Bill Foster (IL-11),…

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