CHICAGO, Feb. 1, 2024 /PRNewswire/ — Dream Exchange is pleased to announce that Charles DeBow, President of the National Black Chamber of Commerce®, has lent his influential support to a letter endorsing the Main Street Growth Act (H.R. 6623). Addressed to key congressional leaders, the letter underscores the pivotal role of this legislation in enhancing access to capital for historically underserved small and mid-sized companies.
The legislation was recently introduced to the House of Representatives for the 118th Congress by Majority Whip Tom Emmer (R) and Representative Jimmy Panetta (D). A companion version of the House bill has been introduced in the U.S. Senate by Senator John Kennedy and aims to address the persistent disparities in early-stage company capital formation. If enacted, this legislation will introduce venture exchanges that will allow shares of smaller companies to trade, creating a more liquid investment market with the eventual goal of enabling companies to transition into the National Market System.
The decline in IPOs for small-to-mid-sized companies over recent decades has dramatically limited access to public capital markets. The Main Street Growth Act is positioned to help reverse this trend, creating more opportunities for communities served by these companies.
Charles DeBow III, expressed his support, stating, “This initiative is a beacon of hope for small businesses, particularly those owned by Black Americans and other underrepresented ethnic minorities. The Main Street Growth Act aligns with our commitment to fostering economic empowerment and ensuring that opportunities are accessible to all.”
Joe Cecala, Founder and CEO of Dream Exchange stated, “The Main Street Growth Act is not just a bill; it’s a catalyst for progress, offering a path to fairness and accessibility in the public capital markets. With bipartisan support, this legislation stands as a potential testament to the power of collaboration in shaping the future. Venture Exchanges are a game-changer, providing a platform for smaller companies to thrive.”
“The Main Street Growth Act is a transformative step towards empowering local communities and fostering economic vitality. It echoes the principles fought for during the Civil Rights Movement – equal opportunities for all. This legislation not only supports the growth of small businesses but also honors the legacy of those who paved the way for a more just society.” – Dwain Kyles, Managing Member of DX Capital Partners, LLC.
On February 20th, at 4PM EST, join Dream Exchange for their upcoming free webinar, Building a Legacy: How Dream Exchange is Enhancing Access to Capital for Entrepreneurs.“
About Dream Exchange
The Dream Exchange is preparing its application and operations to become registered as the first minority company to operate a stock exchange in the history of the United States. In addition, Dream Exchange is championing the creation of a new type of stock exchange called a venture exchange, to list and trade smaller, early-stage company stock. Dream Exchange’s mission is to create equal access to a marketplace that instills ethics, humanity, and fairness into finance.
Vice President of Public Relations
SOURCE Dream Exchange