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Cantor JOBS Bill Would Help Small Businesses Grow
Posted By David C. John On March 7, 2012 @ 7:00 pm In Economics | Comments Disabled
In a move designed to make it easier for smaller businesses to raise money for expansion and job creation, House Majority Leader Eric Cantor (R–VA) has announced that he intends to package together six existing smaller bills into a bipartisan package. The combination, to be known as the Jumpstart Our Business Startups (JOBS) Act, is expected to be joined by similar legislation in the Senate.
Cantor’s package provides growing small businesses with relief from a series of Securities and Exchange Commission (SEC) regulations that sharply limit their ability to raise money by selling stock. In most cases, selling stock is considerably cheaper in the long run than borrowing for business expansion. Of the six specific bills, three have already passed the House by huge bipartisan majorities; two have been approved by the House Finance Services Committee by similar margins; and the sixth has been referred to that committee but not considered.
The six parts of the JOBS Act are:
These seemingly technical bills would greatly increase the ability of smaller businesses to grow and to create jobs, while signaling that both Congress and the Obama Administration are serious about dealing with unemployment.
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