REP. GUINTA STANDS WITH SMALL BUSINESSES & JOB CREATORS BY VOTING FOR THE JOBS ACT
(Washington, DC – March 8, 2012) Representative Frank Guinta (R, NH-01) today voted for the passage of H.R. 3606, the bipartisan Jumpstart Our Business Startups Act (JOBS Act).
The JOBS Act removes government barriers to job creation and economic activity. This package of six bills is designed to help startup small businesses and entrepreneurs get established, access capital and create jobs. These initiatives have received strong bipartisan support in Congress, the President’s Jobs Council and the business community.
The bill passed the House with broad bipartisan support. Guinta made the following statement after the House vote:
“Getting Granite Staters back to work is Priority One for me. That’s why I voted for the JOBS Act. Small businesses are the backbone of New Hampshire’s economy, so it’s crucial that we restore opportunities for entrepreneurs. This legislation can go a long way in helping job creators expand their payrolls and put more people to work.
“The JOBS Act joins nearly 30 other House-passed bills that are now awaiting action in the Senate. But Senate inaction isn’t keeping me from helping people who are out of work. Two weeks ago, I hosted my latest job fair in Portsmouth, with more to come. So whether it’s voting for the JOBS Act in Washington or holding a job fair in New Hampshire, I’m working hard to help return to us to full employment and economic prosperity.
“I call on the Senate to join the House in swiftly passing the JOBS Act and for President Obama to sign it.”
The following bills are part of the JOBS Act:
- · H.R. 3606, the Reopening American Capital Markets to Emerging Growth Companies Act of 2011, making it easier for more small and medium size companies to access capital markets by reducing the cost of going public.
- · H.R. 2940, removing the regulatory ban that prevents small, privately held companies from using advertisements to solicit accredited investors across the country.
- · H.R. 2930, removes SEC restrictions that prevent “crowdfunding” so entrepreneurs can raise equity capital from a large pool of small investors who may or may not be considered “accredited” by the SEC.
- · H.R. 1070, the Small Company Capital Formation Act, makes it easier for small businesses to go public by increasing the offering threshold for companies exempted from SEC registration from $5 million to $50 million.
- · H.R. 2167, the Private Company Flexibility and Growth Act, removes an impediment to capital formation for small companies by raising the shareholder threshold for mandatory registration with the SEC from 500 to 1,000 shareholders.
- · H.R. 4088, the Capital Expansion Act, is a modified version of legislation previously approved by the House. It raises the threshold for mandatory registration under the Securities Exchange Act of 1934 from 500 shareholders to 2,000 shareholders for all banks and bank holding companies and raises the shareholder deregistration threshold from 300 shareholders to 1,200 shareholders.
The bill now goes to the Senate for consideration.