Financial Services Committee Hearing
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Congressman Sessions at Tuesday's committee hearing |
This Tuesday, the House Financial Services Committee held a hearing entitled “Beyond Silicon Valley: Expanding Access to Capital Across America.” In my remarks to witnesses, I highlighted the growing disparity in venture capital distribution across the United States. Texas, despite being one of the fastest-growing states in population and economic output, receives only 2-3% of national venture capital investment. 75% of all venture capital funding is limited to California, New York, and Massachusetts. This imbalance limits opportunities for high-potential startups and emerging industries across our great state. To keep Texas on the cutting edge, we must adopt successful models from across the country and boldly pursue new strategies that empower our entrepreneurs, strengthen local economies, and ensure Texas remains a national leader in innovation. Texas has the talent, vision, and potential. It is time to ensure the necessary resources follow. Watch my remarks here.
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