This week, House Republicans will be introducing the Jumpstart Our Business Startups, or JOBS Act. This legislation is specifically aimed at ensuring our small businesses, entrepreneurs and job creators have access to the resources they need to innovate and grow. It has been supported by members of the Presidents Council on Jobs and Competitiveness, as well as multiple members of the business community.
In the past few years, policies undertaken by the current Administration have seriously hindered access to capital for those seeking to start or grow a business. Our legislation will make a few common sense reforms, giving business owners access to the resources they need and the confidence to grow.
Many provisions of the JOBS Act have already garnered bipartisan support, including pieces of the Reopening American Capital Markets to Emerging Growth Companies Act -- which I cosponsored. The bill will also include parts of the following bills already passed by the House with AT LEAST 400 votes in support of each:
Access to Capital for Job Creators Act
Entrepreneur Access to Capital Act
Small Company Capital Formation Act
Private Company Flexibility and Growth Act
As Roll Call wrote over the weekend, "House Majority Leader Eric Cantor's forthcoming economic proposal designed to boost capital formation for small businesses will include a series of bills that carry broad bipartisan support" - including support from the White House, House and Senate Democrats and members of the business community who represent current or former startup companies.
The JOBS Act represents an opportunity to work together and get something done to help startups and entrepreneurs get off the ground, create jobs and grow the economy.