Garrett Votes for Bill to Unleash Entrepreneurial Spirit on U.S. Economy
WASHINGTON, DC – Rep. Scott Garrett (R-NJ), Chairman of the Financial Services Subcommittee on Capital Markets and Government-Sponsored Enterprises, today voted for the Jumpstart Our Business Startups (JOBS) Act to increase capital formation, spur the growth of startups and small businesses, and pave the way for more small-scale businesses to go public and create American jobs.
“I was proud to support the individual components of this bill when they came through my subcommittee earlier this year and I was proud to vote for the final package on the House floor today,” said Garrett after voting for the JOBS Act. “Each piece of this common-sense, bipartisan jobs package will make it easier for small business entrepreneurs to access the capital they need to grow their businesses and create American jobs. Put simply, the JOBS Act will unleash the entrepreneurial spirit that has defined the economic vitality of our country for generations by tearing down the regulatory barriers standing in the way of America’s job creators.”
“Eliminating unnecessary regulation and reducing costly expenses needlessly imposed on small businesses by Sarbanes-Oxley and other burdensome federal regulations has long been a top priority of mine,” added Garrett. “At a time when our economy continues to struggle with stubbornly high unemployment, we should do all we can to make it easier for job creators to do business in America. I was pleased to see this jobs bill pass the House today with such wide bipartisan support. I’m hopeful Senate Democrats will give this important bill the attention it deserves and send it to the president’s desk in short order.”
As Chairman of the Financial Services Subcommittee on Capital Markets and Government-Sponsored Enterprises, Garrett played a leading role in bringing the JOBS Act to the House floor. In October, the Capital Markets and Government-Sponsored Enterprises Subcommittee approved the underlying bills incorporated into the JOBS Act, including H.R. 3606, the Reopening American Capital Markets to Emerging Growth Companies Act, sponsored by Reps. Fincher and Carney; H.R. 2940, the Access to Capital for Job Creators Act, sponsored by Rep. McCarthy; H.R. 2930, the Access to Capital for Job Creators Act, sponsored by Rep. McHenry; H.R. 1070, the Small Company and Capital Formation Act, sponsored by Rep. Schweikert; and H.R. 2167, the Private Company Flexibility and Growth Act, sponsored by Rep. Schweikert.