Today, Congresswoman Terri A. Sewell (D-AL) joined President Obama at the White House for the bill signing ceremony for the Jumpstart Our Business Startups (JOBS) Act.
"I applaud the President for signing this important legislation into law that will make it easier for small businesses and start-ups to access capital, secure new investors and hire workers to grow their businesses and expand capacity," said Rep. Sewell. "I voted in favor of this bi-partisan bill and I believe that it will help boost our nation's economy and spur job creation for all Americans. It is past time that we in Congress put our partisanship aside and join together in passing legislation that will encourage job growth and American entrepreneurship."
The JOBS Act provides small businesses with greater access to market their products and services by lifting Securities and Exchange Commission (SEC) restrictions that will make it easier to solicit investors. This legislation also provides entrepreneurs with the option to offer small amounts of stock to individuals and companies through the Internet.
"I am honored to be here today to witness this significant legislation being signed into law. Over the last 24 months, we have seen positive job growth in the private sector," said Rep. Sewell. "We must continue to be vigilant in strengthening the middle-class by staying on a path that encourages job creation and supports the millions of Americans struggling during these challenging economic times."
According to the U.S. Small Business Administration, there are approximately 27.2 million small businesses across this country. Small businesses employ nearly half of our entire workforce, hire 40 percent of American technology workers and generate a majority of the innovations that come from United States companies.
Small businesses are the backbone to this nation's economy, the cornerstone to local economies and create two out of every three new jobs in America. It is important that we continue to provide these types of incentives to entrepreneurs to help build and grow our country's workforce.
"I am delighted we were able to work together in a bi-partisan manner to support and pass this jobs bill. This is an example of what can be accomplished when Congress puts aside partisan politics and finds common ground to promote job creation," Rep. Sewell added. "I look forward to working with the President and my colleagues in Congress in continuing efforts to stimulate our economy, create jobs, strengthen small business development and reduce our deficit."