Congressman Tim Griffin (AR-02) issued the following statement after House passage of the Jumpstart Our Business Startups (JOBS) Act (H.R. 3606):
"I'm pleased President Obama has decided to support the House's efforts to strengthen our economy and encourage job creation. Millions of Americans are looking for work and can't find it. This is unprecedented, unacceptable, and unsustainable. By removing unnecessary hurdles and excessive reporting burdens, the JOBS Act will unleash American entrepreneurship and create jobs by making it easier for small businesses to gain access to capital. I was proud to support this bipartisan measure, and the Senate should pass it immediately."
The JOBS Act combines six bills, four of which have already been passed by the House with strong bipartisan support. In addition to the Reopening American Capital Markets to Emerging Growth Companies Act (H.R. 3606), this package includes the Small Company Capital Formation Act (H.R. 1070), the Access to Capital for Job Creators Act (H.R. 2940), the Entrepreneur Access to Capital Act (H.R. 2930), the Private Company Flexibility and Growth Act (H.R. 2167), and the Capital Expansion Act (H.R. 4088). H.R. 4088 is similar to the Shareholder Threshold for SEC Registration Act (H.R. 1965), which passed the House on November 2, 2011. President Obama has indicated he will sign the JOBS Act into law once it is passed by Congress.