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JOBS Act To Be Signed By President Obama
Washington, D.C., April 5, 2012 – Today, President Obama will sign H.R. 3606, the bipartisan JOBS Act, a package of bills aimed at supporting small business and start-up growth. In a rare bipartisan moment, Senate and House leaders moved relatively quickly to pass the act after President Obama acknowledged his support of the package during his State of the Union speech in January.
Looking forward, the NASE hopes that Congress will work to address additional inequalities that exist for small businesses, including the health insurance deduction which remains our number one legislative priority. Legislation introduced in the Senate extends the deduction for an additional two years and we have been working with our small business partners to find a champion in the House to introduce companion legislation in hopes of spurring congressional action.
“It is evident, that when necessary, the congress can act in a bipartisan manner to pass positive legislation. We hope that in the coming months that Senate and House elected officials will come together to pass legislation that serves as powerful motivators for job growth for the self-employed and micro-business community. This includes the extension of the health insurance deduction which directly results in money being placed back into their pockets and businesses that are generating job growth and economic recovery,” stated NASE Director of Government Affairs Katie Vlietstra.
The NASE had previously reported that the legislation had hit a snag while under debate in the U.S. Senate, which resulted in a change to the crowdfunding component of the package. Two amendments were offered that would require additional oversight by the Securities and Exchange Commission (SEC) and stricter limits on how much capital a business could raise utilizing crowdfunding mechanisms. The Senate adopted the lesser of the two restrictive amendments, which punted the bill back to the House to re-approve and thus avoiding a conference committee on the legislation.
The JOBS Act will become only the 103rd bill signed into law by President Obama since January 1, 2011 and during the 112th Congress.
About the NASE
The National Association for the Self-Employed (NASE) is the nation's leading resource for the self-employed and micro-businesses, bringing a broad range of benefits to help entrepreneurs succeed and to drive the continued growth of this vital segment of the American economy. The NASE is a 501(c) (6) nonprofit organization and provides big-business advantages to hundreds of thousands of micro-businesses across the United States. For more information, visit the association's website at NASE.org. |