Area representatives support JOBS Act legislation

Posted to Quad-Cities Online.

U.S. Reps. Bobby Schilling, R-Colona, Dave Loebsack, D-Mount Vernon, and Bruce Braley, D-Waterloo, voted together in support of the Jumpstart Our Business Startups (JOBS) Act passed by the U.S. House on Thursday.
“This bipartisan legislation is about empowering American businesses to start up, hire American workers, and jumpstart our economy,” Rep. Schilling said. “It tackles head-on obstacles that are keeping our nation’s job creators, small businesses and entrepreneurs from growing and hiring.

“I was proud to cosponsor this pro-jobs package, and am pleased to join so many of my colleagues from both sides of the aisle in supporting it today.”

The bill included an amendment introduced by Rep. Loebsack that would require the Securities and Exchange Commission to provide information online and also conduct outreach to businesses owned by women, veterans and minorities to help them specifically utilize the provisions made by the bill.

“Small businesses will be leaders in helping our country climb out of the recession,” Rep. Loebsack said. “In order for this bill to be effective, small and medium businesses must be aware of the new opportunities they will have to expand and raise capital.

“This is a common sense way to ensure that women-owned, veteran-owned and minority-owned businesses are able to use these new tools to grow our economy and create new jobs and industries”

Having passed through the House, the GOP-sponsored JOBS Act now will move to the Senate.

“Americans are desperate for politicians in Washington to work together,” Rep. Braley said. “Reducing restrictions so small businesses can get the capital they need to grow and expand isn’t about politics, it’s about putting people back to work.

“Iowans can’t afford any more gridlock or inaction from Congress on creating jobs. They don’t care about party labels, they care about results.”