Congress·In Committee·S. 3662
ACCESS Act of 2026
Crowdfunding: Lowering Costs for Small Business Fundraising
Legislative Progress
Senate
Key Points
- This bill, introduced by Senator McCormick and Senator Kim, aims to make it cheaper and easier for small businesses to raise money from the public through crowdfunding websites.
- Currently, if a small business wants to raise more than $100,000 through crowdfunding, they must pay an independent accountant to review their financial records. This bill would raise that limit to $250,000.
- By raising the limit, small startups can keep more of the money they raise to grow their business and hire workers instead of spending it on expensive professional fees.
- The bill also gives the government the power to raise this limit even higher, up to $400,000, if experts agree it helps small businesses without putting investors at too much risk.
- While this change helps businesses save money, some people may be concerned that having fewer professional reviews could make it harder for everyday investors to spot potential financial problems in a company.
Impact Analysis
Govbase has not yet run an impact analysis on this legislation.
Milestones
2 milestones2 actions
Jan 15, 2026
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Sent to a congressional committee for expert review. The committee decides whether this bill moves forward.
Jan 15, 2026
Introduced in Senate
The bill was officially filed and given a number. It now enters the legislative queue.
Votes
No votes have been recorded for this legislation yet.
News
No related news coverage found for this legislation yet.
Source Information
Document Type
Congressional Bill
Official Title
ACCESS Act of 2026
Bill NumberS 3662
Congress119th Congress
ChamberSenate
Latest ActionRead twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Data Sources
Sponsor
Cosponsors
(1)D: 1
Analysis generated by AI. Always verify with official sources.