Congressman Ben Quayle released the following statement applauding the House passage of the bipartisan "JOBS' Act. The "JOBS' Act, whichcontains legislation that eases regulations on small businesses and makes capital formation easier, passed on a vote of 390-23. The bill contained Rep. Quayle's Capital Expansion Act, which allows small community banks to grow and raise capital without submitting to costly Securities and Exchange Commission regulations:
"It was very gratifying to see the House of Representatives come together in a bipartisan manner to address job creation. This legislation is much needed and long overdue. As the burden the federal government places on our small businesses and community banks shrinks, they will grow. Freeing our entrepreneurs to access capital and create jobs should be the paramount focus of the entire federal government, and I think great progress was made with the "JOBS' Act.
"I hope this legislation will receive the same attention and bipartisan support in the Senate as it did in the House. It is important that this bill gets to the President's desk as soon as possible."