Rep. McBride Unanimously Passes Her First Bill in Congress

WASHINGTON, D.C. — Today, the U.S. House of Representatives unanimously passed the Equal Opportunity for All Investors Act (H.R. 3339), a bipartisan bill led by Congresswoman Sarah McBride (D-DE), Congressman Mike Flood (R-NE), Congressman Mike Lawler (R-NY), and Congressman Cleo Fields (D-LA). The legislation passed with unanimous, bipartisan support and now advances to the U.S. Senate for consideration. The legislation is Rep. McBride’s first bill to pass the U.S. House of Representatives and it now advances to the Senate.

The bill would modernize the definition of “accredited investor” to allow individuals to qualify for private investment opportunities based on their knowledge and financial sophistication—not just their wealth. It directs the Securities and Exchange Commission (SEC) to establish a new pathway, administered by The Financial Industry Regulatory Authority (FINRA), for qualifying investors based on demonstrated expertise.

“Our bill will unlock capital for entrepreneurs and small business owners who’ve been left out for far too long,” said Rep. McBride. “Current law allows only millionaires to invest in private markets—shutting out countless Americans, especially women, veterans, and people of color, based on wealth, not knowledge.”

Currently, the definition of an “accredited investor” restricts participation in private capital markets to individuals with over $1 million in net worth (excluding their primary residence) or annual income over $200,000. These rules block many financially capable Americans from building wealth—and limit capital access for businesses outside traditional networks. The Equal Opportunity for All Investors Act aims to remove those structural barriers while maintaining investor protections.

“In my state, the Delaware Black Chamber of Commerce has told me that this legislation would ‘help close the capital gap for diverse business owners,’ said Rep. McBride. “Small business leaders say that it’s not a lack of ideas, but a lack of capital, that holds them back. Our bill opens up new sources of funding from a pool of investors more reflective of the community, so these founders can turn vision into jobs and economic growth.”

The bill addresses long-standing inequities in private capital markets, where promising businesses—especially those led by Black, veteran, and women founders—face systemic barriers to investment. By expanding who can invest, the bill helps grow a more diverse pool of investors and, in turn, helps underserved entrepreneurs access the resources they need to scale, hire, and succeed.

Rep. McBride helped lead the bill as part of a bipartisan coalition committed to expanding access to capital and economic opportunity. She thanked her colleagues for their leadership on the bill:

“I’m grateful to Representative Flood for his leadership on this bill. This is exactly the kind of bipartisan, common-sense policy that Congress should be focused on—creating opportunity, unlocking innovation, and expanding prosperity.”

The full bill text can be accessed here. Rep. McBride’s remarks from the floor debate can be accessed for use here.

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