Washington, D.C. - Today, U.S. Rep Tim Walberg voted in favor of H.R. 3606, the Jumpstart our Business Startups (JOBS) Act, a package of six bills designed to help small businesses access capital, eliminate government barriers to job creation and revive our economy. The JOBS Act received strong bipartisan support.  H.R. 3606 passed 390-23.

“One of the toughest challenges facing small businesses right now is getting the capital they need to expand, especially due to the tightening of credit.  I’m glad to see my colleagues from both sides of the aisle enthusiastically embrace the JOBS Act, including the President. Now the Senate is all that stands in the way of small businesses and job creation,” commented Congressman Tim Walberg following the vote. 

Background

The JOBS Act combines a series of legislative actions into a larger package which will increase American job creation through better access to capital markets.  Among the provisions, this bill will reduce the costs of going public for smaller businesses, allow individuals to raise capital through “crowdfunding,” and remove Securities and Exchange (SEC) regulatory barriers for small companies while giving them greater access to public exchanges like the NYSE or NASDAQ.