Rep. Scott Garrett (R-NJ), Chairman of the Financial Services Subcommittee on Capital Markets and Government-Sponsored Enterprises, today joined President Obama and other Members of Congress at the White House for the bill signing ceremony of H.R. 3606, the Jumpstart Our business Startups (JOBS) Act. As Chairman of the Financial Services Subcommittee on Capital Markets and Government-Sponsored Enterprises, Garrett played a leading role in securing passage of the JOBS Act in Congress. In October, the Capital Markets and Government-Sponsored Enterprises Subcommittee approved the underlying bills incorporated into the JOBS Act.
Garrett issued the following statement after attending the bill signing ceremony:
"Today was a good day for the U.S. economy and America's job creators. The JOBS Act will allow America's small businesses to unleash their entrepreneurial spirit on our economy by removing the heavy hand of government that has been standing in the way of economic growth. Free flowing capital will foster competition, encourage innovation and provide the next generation of America's business leaders the financial tools they need make their dreams a reality. With better access to much-needed financial capital, America's business pioneers will be able to explore new frontiers of research and technological breakthroughs that will create American jobs and shift our economic recovery into high gear.
"As Chairman of the subcommittee that approved the underlying bills included in the JOBS Act, I am proud to see these common-sense proposals finally enacted into law. Eliminating unnecessary regulation and reducing costly expenses needlessly imposed on small businesses by Sarbanes-Oxley has long been a top priority of mine. With new business startups down to the lowest level in 30 years under the Obama administration, we need to do all we can to make it easier to conduct business in the U.S. It is my sincere hope that we can build off this momentum and find similar cooperation on the dozens of House-passed jobs bills that are still awaiting action in the Senate."