Crowdfunding: Lowering Costs for Small Business Fundraising
Also known as: ACCESS Act of 2026
Legislative Progress
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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.
Milestones
2 milestones2 actions
Jan 15, 2026Senate
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Jan 15, 2026
Introduced in Senate
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.
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