WASHINGTON – U.S. Senator Chris Murphy (D-Conn.) released the following statement on Tuesday after the U.S. House of Representatives voted to pass his bipartisan Helping Angels Lead Our Startups (HALOS) Act. Murphy’s HALOS Act would support startups and create local jobs by removing burdensome restrictions from individuals who want to invest in startups, and allowing those startups to get the investments they need to grow their business. Murphy has held a series of roundtable discussions with entrepreneurs and angel investors throughout Connecticut to get their feedback on the support they need from the federal government to help create startup jobs. The HALOS Act was developed with their feedback.

“I’ve heard from entrepreneurs all over Connecticut, and they say that the most important thing we can do to help them grow jobs is make it easier for investors to put capital behind them. But right now, unnecessary restrictions are holding investors back, making it difficult for startups to innovate and create new jobs,” said Murphy. “Our HALOS Act will knock down road blocks and give startups the exposure they need to compete in today’s global market. I’m proud the House passed it today with such strong bipartisan support.”

The bill was introduced in the House of Representatives by U.S. Congressmen Kyrsten Sinema (D-Ariz.) and Steve Chabot (R-Ohio). Murphy plans to reintroduce the HALOS Act in the Senate later this year.