This bill sponsored by Rep. Maxine Waters, known as the “Promoting Opportunities for Non-Traditional Capital Formation Act,” calls on an office within the SEC to host events and create educational materials to help “underrepresented” small businesses raise capital. “Underrepresented small businesses” refer primarily to women- and minority-owned businesses. CPAC believes that the government should not be expanded in order to specially benefit certain privileged classes and opposed this bill. The House passed this bill on May 30, 2023 by a vote of 309-67 but the bill did not advance in the Senate.