We’re beginning to get a better picture of what the long-rumored secondary JOBS Act bill may look like, thanks at least in part to recent remarks by Rep. Jeb Hensarling, Chairman of the House Financial Services Committee. The full video is below…
Of note is this specific section of his remarks…
As we’ve recently heard from witnesses who appeared before the Capital Markets Subcommittee, many of these regulations regarding capital formation were actually written for far, far larger companies. But as is often the case in the nation’s capital, Washington imposes a “one-size-fits-all” rules on the private sector. Thus the burdens of these regulations that were written for many big businesses on Wall Street fall most heavily on small businesses on Main Street.
As part of the JOBS Act 2.0, today we will consider three bipartisan bills that will further reduce regulatory roadblocks impeding small business success and the creation of more jobs.
H.R. 1800 offered by Mr. Grimm, will increase the ability of Business Development Companies to lend to small businesses and help ensure the flow of capital to Main Street. I note that the gentlelady from New York, Ms. Velazquez, has championed this cause in the past and has a similar bill that she has introduced herself.
H.R. 2274 sponsored by the gentleman from Michigan, Mr. Huizenga, and the gentleman from New York, Mr. Higgins, will streamline and simplify regulations so that small business owners can sell their small businesses when they retire, rather than perhaps be forced to close them up.
H.R. 3448 sponsored by Mr. Duffy and Mr. Carney will make small companies more attractive to investors and, in turn, produce higher rates of capital formation and jobs.