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Benedicte Gravrand, Opalesque Geneva:
The U.S. Senate has just passed H.R. 3606, the Jumpstart Our Business Startups (JOBS) Act, by a vote of 73-26. The House of Representatives passed the bill on March 8th. The bill and amendments made by the Senate will now go back to the House for another vote. It may be sent to President Obama, who said he would sign it, in a matter of weeks.
The JOBS Act is described as a legislative package designed to jumpstart the economy and restore opportunities for some of the U.S.’s job creators: small businesses, start-ups and entrepreneurs.
"This will make it easier for small and growing companies to raise the capital they need to keep growing and to hire more workers," Senator Pat Toomey, a Pennsylvania Republican, told the New York Times after the vote. Until now, "we’ve made it more expensive to go public in this country and done nothing to make it easier to raise capital privately," he added. "This bill addresses both."
JOBS will reduce the costs and overall make it easier for small businesses to go public; remove Securities and Exchange Commission (SEC) restrictions that prevent "crowdfunding" so entrepreneurs may raise capital from small and non-accredited investors too; and remo...................... To view our full article Click here
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