Press Releases

Washington, D.C. – 5/15/25… Congressman Mike Lawler (NY-17) and Congressman Josh Gottheimer (NJ-05) reintroduced the Helping Angels Lead Our Startups (HALOS) Act, bipartisan legislation to help early-stage companies connect with investors by clarifying federal securities laws and removing unnecessary regulatory hurdles that hinder startup growth.

This bill defines an angel investor for purposes of the federal securities laws. It also clarifies the definition of general solicitation contained in the Securities Act to ensure that startups can discuss their products and business plans at certain events, known as “demo days,” without such discussions being considered an investment offering.

“The HALOS Act is a bipartisan, pro-growth solution to support our startup ecosystem and help bring more great ideas to life. It ensures our innovators can focus on building the next big thing, not navigating outdated SEC rules,” said Congressman Mike Lawler. “By ensuring that demo days are not treated as securities offerings, we’re clearing a path for startups to showcase their ideas, attract investment, and grow.”

“Small businesses are the engine that drives Jersey’s economy — with more than 950,000 small businesses generating nearly half of our state’s jobs. That’s why I’m proud to help lead the bipartisan HALOS Act, which will help more Jersey entrepreneurs access capital and secure the investments they need to grow and thrive,” said Congressman Josh Gottheimer, a member of the House Financial Services Committee. “I’ll never stop fighting to cut red tape, eliminate outdated bureaucracy, help create jobs, and spur economic growth, so that more small businesses can succeed in the Garden State.”

Congressman Lawler is one of the most bipartisan members of Congress and represents New York's 17th Congressional District, which is just north of New York City and contains all or parts of Rockland, Putnam, Dutchess, and Westchester Counties. He was rated the most effective freshman lawmaker in the 118th Congress, 8th overall, surpassing dozens of committee chairs.

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Full text of the bill can be found HERE.