Congresswoman Jean Schmidt is pleased the House of Representatives voted overwhelmingly to pass a job-creating bill she co-sponsored, the Entrepreneur Access to Capital Act, but she said that today's labor report indicates much more needs to be done to get the U.S. economy back on track.
The bill, which passed 407-17 on Thursday with bipartisan support, will ease regulatory burdens to permit so-called crowd funding for start-up businesses.
"This is an innovative way for friends and family members to contribute small amounts of money into a pool to help entrepreneurs launch and grow a company," said Congresswoman Schmidt, a Miami Township Republican. "Small businesses are critical to our local economy -- and the creation of jobs."
The national unemployment rate has been stuck at about 9 percent for over two years, which means nearly 14 million people don't have jobs. "Those numbers are unacceptable," Congresswoman Schmidt said.
"It's now up to the Senate to approve the Entrepreneur Access to Capital Act," Congresswoman Schmidt said. "More than a dozen other bills that would create jobs have been passed by Republicans in the House but remain stuck in the Democrat-controlled Senate. It's time for the Senate to put aside partisan differences and help get our great nation back to work."