Ayotte Votes to Approve Bipartisan "JOBS ACT"

Press Release

As part of her ongoing efforts to help small businesses grow and thrive, U.S. Senator Kelly Ayotte (R-NH) voted today to approve the Jumpstart Our Business Startups (JOBS) Act (H.R. 3606) - bipartisan legislation that passed the Senate 73-26. The bill aims to unlock access to capital that will drive small business job creation.

"Companies in New Hampshire and across the country have been telling Washington to remove red tape that discourages them from growing and making investments. They have also asked us to set aside partisan bickering and actually do something to help the economy," said Senator Ayotte. "Today, the Senate heeded that message and passed the House JOBS Act with bipartisan support. With millions of Americans out of work, there is no excuse for investment capital to sit on the sidelines."

She continued: "This jobs package represents a bipartisan effort to jumpstart job growth by unlocking access to needed capital that will help drive small business job creation. It includes provisions that remove specific regulatory impediments that small businesses have said are making it difficult for them to grow."

Senator Ayotte is a member of the Senate Small Business Committee and the Commerce Committee.

JOBS ACT SUMMARY

The Jumpstart Our Business Startups Act would:

o Increase the limit of the securities offerings threshold under Regulation A;

o Allow crowd-funding intermediaries to connect startup firms with diverse pools of investors who can provide crucial early-stage funding;

o Create an IPO on-ramp for emerging growth companies to reduce the regulatory costs to companies that wish to issue public securities;

o Modernize and streamline the restrictions on Regulation D offerings to allow companies looking to raise funds from accredited investors to more efficiently reach them; and

o Raise the total assets and shareholder thresholds for small companies which wish to remain private while they continue to grow.

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