Congressman Lee Terry (R-NE) today voted for HR 3606, the Jumpstart Our Business Startups (JOBS) Act which passed the House of Representatives by a vote of 390 to 23. The JOBS Act reduces regulations on small businesses, making it much quicker for newly-created companies to go public.
The JOBS Act is comprised of six provisions advancing small American businesses, including one allowing small companies to advertise in order to contact potential investors and raise start-up capital. Four of the JOBS Act provisions were initially stand-alone House bills that passed the House with over 400 votes of bipartisan support.
"The JOBS Act is common sense legislation that cuts government red tape, and makes life easier for small American businesses. In the middle of a recession, we need to encourage entrepreneurship and increase opportunities for start-up businesses. That is just what this bill does, it jumpstarts the economy by helping small businesses succeed."
"Unfortunately, the Democratically-controlled Senate may not even look at the JOBS Act. They might throw it on the growing pile of neglected job creation bills that the House has passed. The Senate needs to put aside their bipartisan bickering and pass the JOBS Act, so we can start putting Americans back to work," said Terry.