Title is a bit misleading since the "how" doesn't come until the middle of Steve's letter. Here it is: <quote> First, the bill would redefine who would be qua

Title is a bit misleading since the "how" doesn't come until the middle of Steve's letter. Here it is: <quote> First, the bill would redefine who would be qualified to be an angel investor. Currently individuals with either $1 million in investable assets or $250,000 in income qualify as accredited investors. The new bill would change this to individuals with $2.3 million in assets or $450,000 in income. According to the Kauffman Foundation, this would eliminate 77% of accredited investors. This single handedly would reduce the amount of capital available to early stage businesses and stunt our much needed job creation. In addition, the new bill would require any company attempting to raise angel investment to seek SEC approval, which would take up to 4 months. As an active angel investor myself, I can say with certain that companies in this stage can rarely wait four months for funding. They will simply be forced to close up shop. </quote>