mr. chabot: thank you, mr. chairman. i'll be brief. i'd like to yield myself such time as i may consume. then i'm going to invite my colleague to -- from virginia, to respond. just a couple of quick points. first of all, relative to this significant economic impact language that my distinguished colleague from georgia is talking about, that's already in the existing law, so we're not changing anything there. we're not saying it, it already says that in the existing law. both the bureaucrats and the courts are used to determining what the terminology like significant means, under the rule or regulation or the law. just as what a reasonable man is . a reasonable -- reasonable is quite common throughout the legal structure. we're also not giving discretion to ms. mcmahon, the soon to be head of the s.b.a. it's to the chief counsel and he's independent. i would now like to yield to our chairman, the gentleman from virginia, mr. goodlatte. the chair: the gentleman is recognized. mr. goodlatte: i thank the gentleman for his amendment. title

mr. steve chabot. last congress very similar legislation passed the house with my support and by an overwhelming bipartisan majority. the halos act ensures that so-called angel investors who serve as the largest funding source for startups in the united states are able to effectively hold educational, economic developments like demo days. the bill also helps ensures startups can connect with angel investors who can serve as funding sources, mentors and outside directors. in plain english, the halos act helps ensure that small and innovative and startups have access to necessary capital. this enables the company to expand and generate jobs that put americans back to work while fueling our economy as a global hub of innovation. mr. speaker, in order to keep america's market competitive, we must relieve americans -- american job creators -- we can move toward this by helping government function as our founders intended. our constitution, you see, lays out a system of three co-equal

mr. chabot of ohio for three minutes. mr. chabot: i thank the gentleman for yielding and i want to thank chairman hensarling for his leadership on this issue and i rise in strong support of h.r. 79, the bipartisan halos act. as chairman of the house small business committee, i have the honor and pleasure of hearing and speaking with many of america's small business owners and their employees almost every day. i hear case after case of small business owners working days and nights and weekends. i hear stories of sacrifice. i hear inspiring stories of success, but all too often i hear about how the government continues to make it difficult for small businesses to prosper and grow and create more jobs which is obviously very important to our nation and its economy. perhaps one of the most common and most alarming concerns is just how difficult it is for entrepreneurs starting out to access the capital that they need to grow. we must provide entrepreneurs a better way to build their businesses. the halos act does just that. the he

mr. chabot: we yield back. the chair: the gentleman yields back. the question is on the amendment offered by the gentleman from arizona. those in favor say aye. those opposed, no. in the opinion of the chair, the noes have it. the amendment is not agreed to. mr. grijalva: mr. chairman, on that i would request a recorded vote. the chair: pursuant to clause 6 of rule 18, further proceedings on the amendment offered by the gentleman from arizona will be postponed. the chair understands that amendment number 15 will not be offered. it is now in order to consider amendment number 16 printed in part a of house report 115-2. for what purpose does the gentleman from florida seek recognition? opposed to the bill mr. chairman, -- will posey: mr. chairman, i have an amendment at the desk. the chair: the clerk will designate the amendment. the clerk: amendment number 16 printed in part a of house report 115-2 offered by mr. posey of florida. the chair: pursuant to house resolution 33, the gentleman from florida, mr. posey and a member opposed, each will contro