Kansas Common Sense: JOBS Act Signed into Law

Statement

On Thursday, President Obama signed into law the Jumpstart Our Business Startups (JOBS) Act, H.R. 3606, a compilation of revisions to our securities laws designed to allow small businesses to expand and create jobs. Research shows that young companies less than five years old accounted for nearly all net job creation in the United States from 1980 to 2005. With the signing of the JOBS Act, we've taken an important step to helping the innovators in our economy who are responsible for creating millions of jobs each year. But with unemployment above 8 percent for the 38th straight month, Congress and the President must do more to help entrepreneurs start businesses and for those new businesses to grow more quickly.

Sen. Warner and I have introduced legislation called the Startup Act, which is based on a simple premise: the easier it is for creative individuals to take risks and start a business, the more jobs will be created. The Startup Act would create tax incentives that will spur investment in startups, further reduce the regulatory barriers that make it harder for startups to grow, and keep highly-skilled, American-educated workers here in the United States where their talents and new ideas can fuel economic growth. The Startup Act should be next on Congress' job creating agenda.

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