Patrick McHenry

Patrick McHenry


McHenry on Passage of the Supporting America's Innovators Act


Chief Deputy Whip Patrick McHenry (NC-10), the Vice Chairman of the House Financial Services Committee, released the following statement after his bill, H.R. 1219, the Supporting America's Innovators Act passed the House of Representatives by a vote of 417 to 3:

"Almost five years to the day after the JOBS Act became law, it is fitting that the House is again coming together in a bipartisan fashion to pass a bill that will help small businesses and startups access much-needed capital. 

"The Supporting America's Innovators Act is a common sense bill that will remove needless and outdated regulations replacing them with a regulatory framework that will encourage the growth of innovative forms of capital formation, which help businesses grow and create jobs."

You can see McHenry's floor speech in support of H.R. 1219 by clicking here, or on the image above. H.R. 1219 now moves to the Senate where it awaits further consideration. A Senate version of H.R. 1219, S. 444 authored by Senators Heidi Heitkamp (D-ND) and Dean Heller (R-NV), unanimously passed the Senate Committee on Banking, Housing, and Urban Affairs in early March. 

H.R. 1219, the Supporting America's Innovators Act of 2017 amends an exemption under the Investment Company Act of 1940 by increasing the investor limitation from 100 to 250 people for qualifying venture capital funds. The bill would eliminate a significant barrier facing small businesses and startups, instead incentivizing venture capital funds to grow their investments in rural-state entrepreneurs, helping local economies grow and thrive.  

Yesterday, McHenry joined with House Majority Leader Kevin McCarthy (CA-23) to host a round table discussion celebrating the 5th anniversary of the Jumpstart Our Business Startups (JOBS) Act. They were joined at the event by investor Steve Case, venture capitalist Kate Mitchell, and other Members of Congress to talk about the JOBS Act's success and how it can be improved. You can read more about yesterday's anniversary event here

Read More

McHenry Bill to Encourage Angel Investing Passes Financial Services Committee


Today, Chief Deputy Whip Patrick McHenry (R, NC-10), Vice Chairman of the House Financial Services Committee, spoke in support of and voted for his bill H.R. 1219, the Supporting America's Innovators Act of 2017. The bill passed out of the committee by a vote of 54 to 2. H.R. 1219 now awaits a vote on the floor of the House of Representatives. You can see the full video of McHenry's statement from today's markup in support of H.R. 1219 by clicking here, or on the image below.

"Over the past five years I've worked tirelessly to update our federal regulatory framework so it works for small businesses and startups," said McHenry"Today, we took a huge step in those efforts as the Supporting America's Innovators Act passed out of both the House Financial Services and Senate Banking Committees. With bipartisan support in both chambers, I'm confident this bill will soon become law, allowing angel investing to reach its true potential."

H.R. 1219, the Supporting America's Innovators Act of 2017 amends an exemption under the Investment Company Act of 1940 by increasing the investor limitation from 100 to 250 people for qualifying venture capital funds. The bill would eliminate a significant barrier facing small businesses and startups, instead incentivizing venture capital funds to grow their investments in rural-state entrepreneurs, helping local economies grow and thrive. 

Earlier today, H.R. 1219's Senate companion legislation, S. 444, unanimously passed the the U.S. Senate Committee on Banking, Housing, and Urban Affairs. The Senate companion, which was introduced by Senator Heidi Heitkamp (D, ND) and Senator Dean Heller (R, NV), now heads to the full Senate for a vote. Following committee passage of S. 444, Senators Heitkamp and Heller released the following statements.

“By making sure rural startups and small businesses have better access to investments from venture capital funds, we can help create new jobs and strengthen our hometown economies,”said Heitkamp. “Today, committees in both the House and Senate agreed. By passing our bipartisan, bicameral bill, it will help sharpen the focus on exciting new startup and small business investment opportunities that exist here in the heartland and get rid of a barrier to economic growth. We introduced our bill just last week, and it’s already gained tremendous momentum – and I’ll keep working to build on that excitement for bipartisan reforms that grow and invigorate our economy.”

“This bipartisan piece of legislation allows for more investors to enter into venture capital-type funds. That means small businesses will now have more access to capital to grow and create jobs. It also allows for more individual investors to participate in ventures with small businesses.  I’d like to thank Senator Heitkamp for her leadership on this legislation,” said Heller.

Read More

ICYMI - McHenry on the American Health Care Act


Chief Deputy Whip Patrick McHenry (NC-10) spoke this week with CNBC's Squawk Box and CNN's Wolf Blitzer to discuss the first part of House Republicans' three-phase plan to repeal and replace Obamacare, the American Health Care Act. Click on the images or links below to see video from Chief Deputy Whip McHenry's appearances:

CNBC's Squawk Box

CNN's Wolf

Additionally, on Tuesday afternoon, Chief Deputy Whip McHenry joined with Majority Whip Steve Scalise (LA-01) and the rest of the House Republican Deputy Whip team for a visit to the White House where they met with President Donald Trump, Vice President Mike Pence, and other senior members of the White House staff to discuss the House Republican plan to repeal Obamacare. 

                                 (photo courtesy of White House Press Secretary Sean Spicer)

Read More

McHenry Announces Details for the Annual Congressional Art Competition


Today, Chief Deputy Whip Patrick McHenry (NC-10) announced submission deadlines for the 2017 Congressional Art Contest. The Congressional Art Competition began in 1982, and, since then, over 650,000 high school students have participated in this nationwide event enabling high school students to showcase their artistic ability.

“The Tenth District is home to a number of bright and talented art students,” said Congressman McHenry.  "Once again this year, I'm proud to help recognize these talented artists by hosting the Congressional Art Competition." 

The winning artwork from each congressional district will be prominently displayed in the U.S. Capitol in Washington, D.C. The “Grand Prize” winner will also receive two round-trip tickets to Washington, D.C., to attend a ribbon-cutting ceremony and will be eligible for a scholarship to the Savannah College of Art and Design.
All entries will be judged by a panel, and one winner will be selected.  Artwork must be submitted electronically to Joe Bost  of Congressman McHenry's Gastonia office.  The deadline to submit the artwork is May 5, 2017.  
Once all artwork has been received, submissions will be posted on the Congressman's Facebook page and users can share their thoughts on the work by liking their favorites.     
The Congressional Art Contest is a privately-funded competition with support from Southwest Airlines and the Congressional Institute. For more information, please click here

Read More

McHenry Introduces Bipartisan, Bicameral Bill to Promote Investments in Businesses & Startups


Last week, Congressman Patrick McHenry (R, NC-10) joined with U.S. Senators Heidi Heitkamp (D-ND) and Dean Heller (R-NV) to introduce bipartisan, bicameral legislation to help encourage and boost investments in small businesses and startups in western North Carolina and throughout the country. 

H.R. 1219, the Supporting America's Innovators Act of 2017 amends an exemption under the Investment Company Act of 1940 by increasing the investor limitation from 100 to 205 people for qualifying venture capital funds. The bill would eliminate a significant barrier facing small businesses and startups, instead incentivizing venture capital funds to grow their investments in rural-state entrepreneurs, helping local economies grow and thrive. 

Often, would-be venture capitalists are discouraged from establishing funds in rural areas where smaller-dollar investors are more common, for fear of violating the U.S. Securities and Exchange Commission’s (SEC) limit of 100 accredited investors before a fund is required to spend the time and money registering with the agency. While this may not be an issue for some venture capital funds in high-net worth areas of the country – whose high-dollar investors make this ceiling difficult to reach – it can deter venture capital funds who would otherwise seek investments in states like North Carolina where local small businesses and startups often identify initial seed funding as their primary hurdle to getting off the ground. The Supporting America's Innovators Act would address this problem. 

“Small businesses drive our economy and create jobs, but have suffered the most in recent years.  With small business lending down, we need to pursue policy that encourages greater innovation in capital formation and allows American to invest in each other. The Supporting America’s Innovators Act does that and I’m proud to join with a bipartisan, bicameral group to introduce this important bill,” said Congressman McHenry.

“Too often, federal rules are written without rural America in mind, causing local small businesses and startups to lose out – but my bipartisan bill with Senator Heller seeks to change that,” said Senator Heitkamp. “Rural-state entrepreneurs shouldn’t be precluded from investment opportunities in their startups or small businesses, but when the U.S. Security and Exchange Commission limits accredited investors to 100 before registration with the agency is required – which doesn’t take long in rural areas where small-dollar investments are more common – that’s exactly what’s happening, and it’s time to level the playing field. By removing roadblocks to venture capital investments, we can help grow opportunities rural-state small businesses and startups need to thrive.” 

“Growing businesses need capital investments in order to expand, invest, and hire new employees. This bipartisan legislation updates outdated limits on investments, allowing for Nevada’s job creators to access critical capital that they can use to grow. Nevadans are tired of Washington limiting innovation and holding back our economy, and this proposal is another way to curb excessive government interference while supporting entrepreneurship,”
said Senator Heller.  Read More

McHenry on President Trump's Address to Joint Session


Chief Deputy Whip Patrick McHenry (NC-10) released the following statement in reaction to President Donald Trump's address to a joint session of Congress:

“Tonight, President Trump laid out a clear and unifying vision for our country, a vision focused on creating good-paying jobs, lifting up the middle class, and keeping Americans safe and secure. In his first 40 days, we’ve already seen progress towards these goals with executive actions to cut regulations and secure our southern border.

“With his speech tonight, President Trump outlined the next steps in our work: describing details on his plans to repeal and replace Obamacare and reform our broken tax code. In the coming days and weeks, I look forward to working with him to achieve these shared goals and improve the lives of all Americans.” 

Read More

McHenry on Mick Mulvaney's Confirmation as Director of OMB


Chief Deputy Whip Patrick McHenry (NC-10) released the following statement upon Senate confirmation of Congressman Mick Mulvaney (SC-05) as the Director of the Office of Management and Budget (OMB):

“Congratulations to my good friend Mick Mulvaney on his confirmation as the Director of OMB. Mick is just the person we need at OMB: smart, principled, and brutally honest. It is long past time the federal government seriously addressed the challenges facing our federal budget and Mick is the right person to lead those efforts. While he will be missed in the House, I join with the rest of my colleagues in wishing Mick the best as he moves into his new role.”    Read More

McHenry on President Trump's Executive Actions on Dodd-Frank, DOL Fiduciary Rule


Chief Deputy Whip Patrick McHenry (NC-10), the Vice Chairman of the House Financial Services Committee, released the following statement after President Donald Trump signed executive orders relating to the Dodd-Frank Act and the Department of Labor's Fiduciary Rule:

“Dodd-Frank’s regulations have driven up costs and made credit less available  for families and small businesses throughout western North Carolina. Over the past six years, the House Financial Services Committee has worked tirelessly to replace this broken law with a system that actually brings down costs and promotes economic growth all while maintaining strong protections for American consumers. 

“With today’s orders from President Trump, it’s encouraging to see we finally have an ally in these efforts. Coupled with the executive order delaying the DOL’s costly fiduciary rule, these two actions illustrate Congress and the Trump Administration’s strong commitment to ensuring long-term financial security for American families and small businesses.” 

Read More

McHenry Introduces the Family Care Savings Act


Today, Chief Deputy Whip Patrick McHenry (R, NC-10) introduced H.R. 782, the Family Care Savings Act. This legislation raises the cap on dependent care flexible spending accounts from $5,000 to $10,000 and indexes the cap amount to inflation. Joining as an original cosponsor of the legislation is Congresswoman Grace Meng (D, NY-06). 

"In recent years, we've seen the cost of everyday goods and services rise dramatically and yet the vast majority of American families have seen their wages stagnate," said Congressman McHenry. "These new budget realities have posed unique challenges which the Family Care Savings Act aims to address. By increasing the cap on dependent care flexible spending accounts, this bipartisan legislation can help ease the financial burden on families saving for vital child and dependent care services.” 


The dependent care FSA was originally created as part of the Tax Reform Act of 1986 and is designed to help American families plan and budget by using pretax dollars to pay for expenses related to the care of children, disabled spouses, or elderly parents.  The current cap of $5,000 was originally set in 1986 and applies to children under the age of 13, anyone who is physically or mentally unable to care for themselves, and any adult whose care is predominantly paid for by another person.  Minimum and maximum contribution amounts to dependent care FSAs are set by employers. 

Flexible spending accounts (FSA) are a savings vehicle established as part of employer-sponsored health insurance plans.  They allow employees to save a share of their earnings for qualifying expenses which typically include medical or dependent care.  The money is pre-taxed and deducted directly from employee's paychecks.   Read More

McHenry Introduces the EPIC Act


Chief Deputy Whip Patrick McHenry (NC-10) introduced H.R. 675, the Empowering Parents to Invest in Choice (EPIC) Act. Introduced during National School Choice Week, this legislation enables parents to save for their children's education in tax-free savings accounts including the popular 529 savings accounts. Additionally, this legislation would increase the contribution limits to Coverdell accounts. 

“Ensuring a good educational foundation for your children is among each parent’s greatest concerns in life,” said Congressman McHenry. “Yet today, rising costs have made it increasingly difficult for parents to achieve this goal. 

“With introduction of the EPIC Act, I hope to change that,”
McHenry continued. “By allowing parents to save tax-free via 529 accounts, this legislation provides children the opportunity to attend the school of their choice, while also increasing access to important educational resources like books, tutors, or special needs services. A strong education is vital for children’s success in life, and this bill gives parents an important tool to invest in their development.” 


H.R. 675 allows parents to use 529 saving accounts for certain K-12 expenses, including: academic tutoring, special needs services, tuition, and fees for schools and books. It also increases the limit on contributions to Coverdell accounts from $2,000 to $12,000. 

529 plans are tax-advantaged investment trusts currently used to pay for higher-education expenses. Withdrawals from these savings plans are tax-free if they are used to pay for qualified higher education expenses. Payments to 529 accounts must be made in cash or check using after-tax dollars.

A Coverdell account is a tax-advantaged investment account that can be used to pay for higher-education expenses as well as elementary and secondary school expenses. Currently, these accounts are capped at $2,000 per year.  Read More

Loading legislation ... one moment please
Loading votes ... one moment please

Contact Information

2334 Rayburn HOB
Washington, DC 20515
Phone 202-225-2576
Fax 202-225-0316

Patrick McHenry is serving his sixth term in the United States Congress where he represents the citizens of North Carolina’s 10th District. Congressman McHenry’s district comprises seven counties in western North Carolina, from the suburbs of Charlotte to Asheville in the Blue Ridge Mountains.

In the 114th Congress, McHenry serves as the Chief Deputy Whip, a position he was selected to Majority Whip Steve Scalise (LA-01) on June 26th, 2014. Assuming the Chief Deputy Whip position on August 1st, 2014, McHenry directly assists Majority Whip Scalise by leading a team of five Senior Deputy Whips and helping to manage the legislative priorities of Congressional Republicans on the House floor. Congressman McHenry is a member of the House Financial Services Committee. In the 113th Congress, Congressman McHenry served as Chairman of the House Financial Services Committee’s Oversight and Investigations Subcommittee. In this role, the Congressman provided oversight of the Federal Reserve, Treasury, the Federal Deposit Insurance Corporation, the Securities and Exchange Commission, the National Credit Union Administration, the Office of the Comptroller of the Currency, the Department of Housing and Urban Development, the Federal Housing Finance Agency, and the Export-Import Bank. He was previously a member of the House Committee on Oversight and Government Reform.

Throughout his career, Congressman McHenry has been a vocal and effective advocate for the men and women who wear the uniform of our country. He received awards from the North Carolina Chapters of the American Legion and Marine Corps League for his extensive work in bringing a veterans’ health care clinic to his district after nearly two decades of delay. The National Guard presented Patrick McHenry with the Charles Dick Medal of Merit for his exceptional service to the North Carolina National Guard.

McHenry has been recognized as a leader of the conservative movement in America. He shares the most conservative voting record in Congress on family values issues, according to National Journal. Having never voted for a tax increase in his career, Congressman McHenry is continually recognized as a “Hero of the Taxpayer” by Americans for Tax Reform.

Congressman McHenry is the recipient of several additional awards including: the National Association of Manufacturing’s “Manufacturing Legislative Excellence” Award, the Small Business and Entrepreneurship Council’s “Small Business Champion” Award, the U.S. Chamber of Commerce’s “Spirit of Enterprise” Award, the 60 Plus Association’s “Guardian of Seniors’ Rights” Award, the Family Research Council’s “True Blue” Award, and Citizens Against Government Waste’s “Taxpayer Hero” Award.

Most importantly, Congressman McHenry continues to listen to the voters of the 10th District and act as their voice in Washington. His main focus is to provide the highest level of constituent services at home in Western North Carolina.

Prior to being elected to Congress in 2004 at the age of 29, Patrick McHenry represented the 109th District in the North Carolina House of Representatives. He also served as Special Assistant to the Secretary of the U.S. Department of Labor, a post he was appointed to by President Bush. Patrick McHenry is a graduate of Ashbrook High School in Gastonia, N.C. and Belmont Abbey College, where he earned a Bachelor of Arts in History. Congressman McHenry and his wife Giulia live in Denver, N.C. and worship at Holy Spirit Church. On August 15th, 2014 Congressman McHenry and Giulia announced the birth of their first child, a daughter named Cecelia Rose.

Serving With

Walter Jones


Virginia Foxx


Mark Walker


David Rouzer


Richard Hudson


Robert Pittenger


Mark Meadows


George Holding


Ted Budd


Recent Videos