JOBS Act passes
Posted: Thursday, March 29, 2012 10:15 am
Washington – Last week, the JOBS Act passed the U.S. Senate with a vote of 73-26. The JOBS Act is a legislative package designed to jumpstart our economy and restore opportunities for America’s primary job creators: our small businesses, startups, and entrepreneurs. Congressman Fincher’s H.R. 3606, which passed out of the US House of Representatives with bipartisan support (390-23), is the base bill for this package of bills. H.R. 3606, the Reopening American Capital Markets to Emerging Growth Companies Act, reduces the costs of going public by phasing in certain regulations over a five-year period, or until the company reaches $1 billion in revenue. This allows companies to go public sooner and access much needed capital, resulting in more job creation within the company.