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Begich Statement on the JOBS Act Vote

Statement

Date: March 22, 2012
Issues: Unemployed and Low-Income Business and Consumers Employment and Affirmative Action

U.S. Sen. Mark Begich released the following statement after voting no today on the JOBS Act:

"The JOBS Act has a good title, but when you dig into the details you find this bill is just a giveaway to Wall Street.

"Many of the consumer protections we worked for after the 2008 financial collapse are rolled back in this bill, and I just couldn't support it as written. This bill was rushed through the House without thorough debate and discussion, and it's too bad the Senate was pushed into a similar process with a bill that creates new loopholes ripe for fraud and abuse.

"We must increase access to capital for small businesses so they can expand and create jobs, but we shouldn't do it on the backs of consumers, and groups such as seniors and veterans, who we have worked so hard to protect.

"Even if this bill becomes law, I will continue to work for a real jobs act that is fair, balanced, and transparent. I won't support any legislation that could create a new Wall Street bubble from unregulated investment practices like are encouraged in this bill. I won't put Alaska families and investors at risk."


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