JOBS Act is Example of Bipartisan Success
As the Small Business Chairman, I hear every single day from small businesses throughout the country. I firmly believe that an important part of getting our economy back on track is making sure that small businesses begin hiring again. They create 7 out of every 10 jobs and play a big part in ensuring that our economy is growing.
Americans who want to start new businesses currently face many discouraging obstacles that have dampened the entrepreneurial spirit of this country and damaged a critical source of job creation.
Since 2007, we've seen a 23 percent drop in new business creation, according to the Bureau of Labor Statistics. Additionally, October's annual World Bank's Doing Business report found that the United States fell to No. 13 for ease of starting a business, down from No. 3 in 2007.
Earlier this year, Congress passed the Jumpstart Our Business Startups (JOBS) Act with bi-partisan success. This bill will help by increasing capital formation opportunities and paving the way for more small-scale businesses to go public and create more jobs.
The JOBS Act will allow access to more financing for small businesses and address regulatory burdens that small firms face. Economic data is slowly starting to show signs of improvement, but we still are far from full employment.
The JOBS Act will help our economy grow by jumpstarting business startups at a time when we need it most. Congress needs to build on this bi-partisan success and remove the obstacles that many small businesses face.
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Sincerely,
