President Barack Obama will sign the Jumpstart Our Business Startups Act today. The JOBS legislation includes key initiatives that Obama proposed last year to help small businesses and startups grow and create jobs.
“America’s high-growth entrepreneurs and small businesses play a vital role in creating jobs and growing the economy,” said President Obama. “I’m pleased Congress took bipartisan action to pass this bill. These proposals will help entrepreneurs raise the capital they need to put Americans back to work and create an economy that’s built to last.”
The legislation had bipartisan support, with backers saying it would promote job creation. Some Democrats raised concerns that the bill softened investment protections put in place after the dot.com excesses and Wall Street meltdowns, arguing it could lead to fraud and abuse.
It’s good to see the government starting to believe in small businesses. Although we have to really dissect this bill more and even wait a few years before we see any outcomes, Obama signing this act can help drive the recovery of our economy and job creation.
For more of the JOBS Act, please read up here!