Political Quotes

“As you know, the Jumpstart Our Business Startups Act, or the JOBS Act as it is commonly known, was signed into law about 1 year ago. This bill received the support of both Democrats and Republicans on the Financial Services Committee. Some of us, including me, have some concerns about this legislation. We are basically taking a chance that investors will not be harmed, but we're taking a chance because we are so anxious to create jobs, and this legislation is possibly yet another approach to creating jobs. {time} 1250 This is not the American Jobs Act, but this is a jobs act. And I believe that my colleague on the opposite side of the aisle, Mr. McHenry, really believes that this is going to create jobs. So we're going to take a chance that this will create jobs. Regulation A currently allows certain companies to raise up to $5 million a year through a streamlined, less costly registration process, providing smaller companies with much-needed capital without overly burdening them with registration requirements. In the JOBS Act, we raise that level to $50 million, thus providing small companies with a greater ability to develop new products and create much-needed jobs for their local economies. The JOBS Act did not set a deadline under which the Commission needed to complete this rulemaking.…”