Senator John Hoeven today helped to pass the Jumpstart Our Business Startups (JOBS) Act, bipartisan legislation that empowers America's small businesses to innovate and grow by removing unnecessary regulations that currently prevent them from accessing capital. The JOBS Act was approved by the Senate today in a bipartisan vote of 73-26.
"Supporting our nation's small businesses is vital to job creation and restoring our national economy. We need to create a legal, tax and regulatory environment that encourages innovation and job creation in our private sector, and the bipartisan JOBS Act helps to do just that. It improves our regulatory environment and provides small businesses and entrepreneurs with better access to the capital they need to grow and innovate. This is a step in the right direction for our nation's job creators and for our economy."
The JOBS Act incorporates six measures that encourage small business growth, including the Access to Capital for Job Creators Act, which Hoeven cosponsored in November. The Access to Capital for Job Creators legislation reduces regulations requiring businesses to have pre-existing relationships with investors and empowers businesses to attract capital from accredited investors nationwide to grow their businesses and create more jobs.