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JOBS Act passes in U.S. Senate, small business advocates applaud

On March 22, the U.S. Senate passed the Jumpstart Our Business Startups Act (JOBS Act), H.R. 3606, which includes a package of critical capital formation and access measures that will aid cash-starved small businesses and entrepreneurs. The Senate passed the measure 73-26. The U.S. House passed a separate version of the bill on March 8, with strong bipartisan support (390-23) and with President Barack Obama’s backing.

Small Business & Entrepreneurship Council (SBE Council) president & CEO Karen Kerrigan said the final product will be a powerful package with significant benefits for the small business community. Other reforms contained within the JOBS Act will help small businesses access and accelerate their growth in the public markets. Inflexible and costly rules impeding the growth of promising enterprises are properly addressed in H.R. 3606, allowing these firms to more efficiently scale up while freeing up more resources for investment and job creation.

SBE Council is a nonprofit, nonpartisan advocacy organization dedicated to protecting small business and promoting entrepreneurship. For more information, please visit: www.sbecouncil.org.


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