Senator Warner joined a bipartisan group of Senators earlier this week to successfully add a key amendment in the Wall Street reform legislation to protect the ability of "angel investors" to support small business startups that will be vital to job creation.

The amendment -- which was sponsored by Senators Kit Bond (R-MO) and Senate Banking Committee Chairman Christopher Dodd (D-CT) and co-sponsored by Senator Warner, Scott Brown (R-MA), Maria Cantwell (D-WA) and Mark Begich (D-AK) -- was adopted by voice vote.

The amendment eases restrictions for accredited investors and promotes small business startups by speeding-up and increasing the availability of essential seed capital from qualified investors. Specifically, the amendment eliminated language in the introduced bill that would have required a 120 day Securities and Exchange Commission review period for so-called "angel" investors.

Senator Warner said of the amendment's passage:

“Limiting access to start-up capital does nothing to encourage innovation or boost our nation’s competitiveness. Our bipartisan amendment ensures that angel investors will be able to continue to provide critical financing for new entrepreneurs and promising young companies.”