As someone who was a small businessman for over 30 years, I know how hard it can be to run a business, especially during tough economic times. Troubles are only made worse by the cost of government regulations, which are estimated at over $10,000 per employee per year.
To help small businesses and startups, we need to remove the government from the process so that they can get back to what they do best, creating jobs. That's why, recently the House and Senate were able to come together and pass the Jumpstart Our Business Startups Act, or JOBS Act. The bill combines six previous bipartisan jobs bills that reduce regulations and fees on small businesses and startups.
According to the Small Business Administration, over 60 percent of new jobs are created by small businesses. At a time when new jobs are needed, bills like the JOBS Act will help them grow and expand, and that will help get our economy back on track.
It's time to get the government out of the way and once again make America the best place in the world to do business. I was pleased to see President Obama agreed and signed this bill into law on April 5th.