October 22, 2017

House Passes Job Creation Act

(WASHINGTON, D.C.) – The House has passed H.R. 3606, the Jumpstart Our Business Startups (JOBS) Act.  The legislation was comprised of six smaller bills aimed at removing government barriers to job creation.

Three of these bills had already passed the House with large bipartisan support. All of the initiatives within the legislation have bipartisan support in Congress, support of the President’s Job Council, and support of the business community.

Congressman Westmoreland joined a majority of his colleagues and voted in favor of the bill.

“One of my priorities right now is to pass legislation that will help small businesses expand and create jobs. Small businesses are the economic engine that drives our economy, yet the economic policies of the Administration and the onslaught of federal regulations have caused many to fall behind.  That’s why I’m proud to support the JOBS Act.  These common-sense, bipartisan measures will remove many of the president’s harmful barriers and help get Americans back to work.”~Congressman Westmoreland 

According to the Small Business Administration, small businesses generate over 60 percent of new jobs in this country. Unfortunately, new business startups are at a 17 year low as job creators stay on the sidelines to avoid the mountains of redtape and uncertainty coming out of Washington.

During the 112th Congress, the House Financial Services Committee, of which Congressman Westmoreland is a member, has drafted dozens of bills to address these issues.

“The Financial Services Committee has been working diligently to ensure no business seeking to raise capital is prevented from doing so by Washington regulators,” stated Westmoreland.

“I’m proud to serve on this committee which has taken a lead role in combating the unemployment problem in this country.  While the federal government shouldn’t be in the business of creating jobs, government must not be the roadblock for companies looking to hire.  The JOBS Act is a shot in the arm to our small businesses that will reduce their regulatory burdens and help them create jobs.” ~Congressman Westmoreland

The breakdown of the six different initiatives within the JOBS Act can be found on Congressman Westmoreland’s website at http://westmoreland.house.gov/News/DocumentSingle.aspx?DocumentID=282145.

 

Comments

  1. This bill, the “Jobs Act” will remove the critical protections imposed in the analyst settlement years ago with respect to companies with revenues of less than a billion a year, allowing them to return to the fraudulent practices of the recent past.
    Did the House conduct any meaningful hearings before they voted on the issue? Or even it’s long term results? No, Congress merely responded to the commands of their Wall Street cronies. So once again Wall Street will self regulate themselves and you know how well that worked out in the past. This misnamed bill will again come back to bite taxpayers right in their wallets.Thanks Congressman.

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