Reps. McBride, Flood Introduce Bipartisan Equal Opportunity for All Investors Act to Expand Access to Capital and Opportunity

WASHINGTON, D.C. — Today, Representative Sarah McBride (D-DE) joined Reps. Mike Flood (R-NE), Mike Lawler (R-NY), and Cleo Fields (D-LA) in introducing the Equal Opportunity for All Investors Act — a bipartisan bill to level the playing field for investors and expand access to capital for underrepresented entrepreneurs, including minority-, veteran-, and women-owned businesses.

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 changes that by allowing individuals to qualify as accredited investors by passing an exam developed by the Securities and Exchange Commission (SEC) and administered by FINRA, recognizing financial sophistication—not just wealth.

“Everyone deserves a fair shot at opportunity,” said Rep. McBride. “The Equal Opportunity for All Investors Act is a commonsense, bipartisan step toward financial inclusion. By expanding the pool of accredited investors, we’re cutting through unnecessary red tape and opening the doors of our capital markets to a broader, more diverse group of Americans. That means greater access to capital for women, veterans, and communities of color—and more innovation, small business growth, and a stronger economy for everyone. I’m grateful to my colleague, Representative Flood, for his leadership.”

“It is my firm belief that greater access to our capital markets should be accessible due to merit and knowledge, not just wealth,” said Rep. Flood (R-NE). “The Equal Opportunity for All Investors Act creates a new pathway for investors to gain accredited investor status by passing a thorough investment exam administered by FINRA. Thank you to my colleagues for joining this effort, and I look forward to bringing this before the full committee.”

The bill addresses long-standing inequities in private capital markets, where promising businesses—especially those led by Black, Latino, and other underrepresented 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.

“This legislation would open the door for more investors of color to participate in wealth-building opportunities and help close the capital gap for diverse business owners,” said Ayanna Khan, Founder & President/CEO of the Delaware Black Chamber of Commerce. “We applaud Rep. McBride for introducing a bill that recognizes the talent, capability, and potential of communities that have been historically excluded from investment networks.”

The bill builds on bipartisan efforts to foster economic equity, empower individual investors, and support entrepreneurship across all communities. The full bill text can be accessed here.

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Delaware’s Congresswoman Sarah McBride serves on the House Foreign Affairs Committee and its Subcommittees on Europe and on Oversight & Intelligence, she also serves on the House Space, Science and Technology Committee and its subcommittee on Research and Technology. She serves as a Deputy Whip for Policy in the Democratic Caucus.