Political Quotes

“I too rise in support of H.R. 5877, the Main Street Growth Act. Ever since the JOBS Act was signed into law, Congress has worked hard to build on its success to ensure American businesses, entrepreneurs, and investors are able to realize the real and potential benefits that make our markets the envy of the world. The Main Street Growth Act continues that discussion. Approved by the House Financial Services Committee by a vote of 56-0, this legislation will facilitate the creation of venture exchanges, a concept many see as a viable means to encourage more early-stage IPOs and improve capital formation. When businesses go public, jobs are created and new centers of wealth are formed. In fact, a 2012 study found that for the 2,766 companies that participated in an IPO between 1996 and 2010, total employment across these businesses increased by 2.2 million jobs, while total revenue increased by over $1 trillion. Unfortunately, sustaining and encouraging more companies to move forward with an IPO has proven difficult over time. Every year for the past two decades, the number of public companies in the United States has dropped, with the only exception being the year Congress passed the JOBS Act. Since 2009, the number of U.S.-listed IPOs, on average, has hovered at fewer than 200 a year, well below the previous decade's average.…”