The House of Representatives voted today to send job-creation legislation to the White House for the President's signature after agreeing to a Senate-backed amendment. Rep. Tom Petri supported the measure, which passed by 380-41.
H.R. 3606, the Jumpstart Our Business Startups (JOBS) Act of 2012, is a package of legislation intended to improve small business access to capital. It eases some of the regulatory burdens on smaller firms seeking to raise capital in equity markets.
"This source of funding is particularly important given the difficulty of obtaining bank loans following the financial crisis," said Petri. "We need to help small businesses in this country - not only because we need to create jobs, but also because small businesses with 50 or more fulltime employees will get socked with considerable costs if the President's health care bill is implemented as scheduled in 2014. We are in a fight to rebuild the private sector."