U.S. Representative John Carney (D-DE) today praised the Senate passage of the JOBS Act, which passed the House 390-23 earlier this month. The centerpiece of the JOBS Act is IPO legislation introduced by Rep. Carney that makes it easier for emerging growth companies to go public. The IPO legislation received the endorsement of President Obama and the Treasury Department, and passed the House Financial Services Committee by a vote of 54-1.
"The decline of IPOs across America has stifled job creation, slowed economic growth, and reduced revenues for the state of Delaware. By passing the JOBS Act, the Senate has joined the House of Representatives in recognizing the importance of making it easier for small and medium-sized companies to grow and take their businesses to the public markets. I thank both Senator Carper and Senator Coons for their important contributions to this legislation." said Congressman Carney. "It is my hope that we can send the bill to President Obama for his signature in the near future. The passage of this legislation is a positive step forward, but there is significantly more work to be done. We must continue to look for bipartisan solutions that create jobs and grow the economy."