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One of the penalties for refusing to participate in politics is that you end up being governed by your inferiors. -- Plato (429-347 BC)

Monday, November 07, 2011

Calling Harry Reid! Small Businesses Waiting On A Senate Vote!

183 House Dems Joined All Republicans In Voting For The Small Company Capital Formation Act Arguing It Would ‘Grow And Create Jobs’

Sens. Toomey And Tester Are Waiting For A Senate Vote
“The bipartisan Small Company Capital Formation Act [S. 1544] makes it easier for small startup companies to raise much-needed capital through public offerings… will help entrepreneurs raise more capital and create jobs.” (Sens. Toomey & Tester, Press Release, 9/12/11)

House Voted 421-1 In Favor
HOUSE OF REPRESENTATIVES: 421 Congressmen, Including 183 Democrats voted for H.R.1070: “The Small Company Capital Formation Act.” (H.R.1070, Roll Call Vote #820, Bill Passed 421-1: R 238-0; D 183-1, 11/2/11)

REP. GARY PETERS (D-MI): “Mr. Speaker, it's clear that we must pass this bipartisan legislation to help our small companies grow and create jobs. I urge adoption of this bill.” (Rep. Peters, Congressional Record, H.7231, 11/2/11)

REP. ANNA ESHOO (D-CA): “I'm proud to be a cosponsor of H.R. 1070, to raise the regulation offering limit from $5 million to $50 million, once again creating a meaningful offering limit. What better time than now when our economy needs this important boost.” (Rep. Eshoo, Congressional Record, H.7231, 11/2/11)

President Obama Supports The Idea
PRESIDENT OBAMA: “We’re also planning to cut away the red tape that prevents too many rapidly growing startup companies from raising capital and going public.” (President Obama, Address To A Joint Session Of Congress, 9/8/11)

“The President’s jobs plan, specifically crafted to garner quick bipartisan support… This means reducing the disproportionately high costs that smaller companies face when going public, as well as raising the cap on “mini” public offerings (Regulation A) from $5 million to $50 million.” (“The American Jobs Act,” The White House, 9/09/11)

‘Increasing The Ability To Grow Jobs’
PENNSYLVANIA JOB CREATOR, JEFF HATFIELD: “Changes to the offering threshold of Regulation A would significantly improve the funding opportunities… increasing the ability to grow jobs…” (Sens. Toomey & Tester, Press Release, 9/12/11)

MONTANA JOB CREATOR, DR. ROBERT BARGATZE: “In addition to the difficult financing landscape and struggling public markets, growing biotech companies also face regulatory burdens which further hinder capital formation in our industry…  Making changes to regulations which unintentionally harm the biotech industry would free companies to focus their efforts on their innovative scientific research rather than complex reporting and compliance.” (Sens. Toomey & Tester, Press Release, 9/12/11)

IT INDUSTRY ASSOCIATION: “CompTIA applauds the House's passage of the Small Company Capital Formation Act of 2011 and urges the Senate to follow suit… This is a clear bipartisan common sense tool that will help make our capital markets more vibrant and competitive at a time when so many small businesses are in need.” (“CompTIA Commends the House on Passage of the Small Business Capital Formation Act of 2011,” Business Wire, 11/3/11)

BIOTECH INDUSTRY ASSOCIATION: “The Biotechnology Industry Organization (BIO) strongly supports the Small Company Capital Formation Act (HR 1070), sponsored by Rep. David Schweikert (R-AZ), which passed the House today by a vote of 421-1.” (“BIO Praises Passage Of Small Company Capital Formation Act,” Business Wire, 11/2/11)

‘IPO’s And Hiring Sprees Go Hand In Hand’
“Companies use the cash they raise to grow — and that means hiring people. And at a time when 14 million Americans are looking for work and the unemployment rate has been stuck near 9 percent for two years, the last thing the economy needs is for one engine of hiring to stall.” (“The IPO Market, An Engine Of Job Growth, Stalls, The Associated Press, 10/24/11)

“For upstart companies, IPOs and hiring sprees go hand in hand … For profitable businesses, an IPO can also unlock the door to corporate debt markets, another source of cash that helps a company grow.” (“The IPO Market, An Engine Of Job Growth, Stalls, The Associated Press, 10/24/11)

“A recent study by the National Venture Capital Association, a trade group, and IHS Global Insight, an economic forecasting firm, examined companies that went public from 1970 to 2010 and had been backed by venture capital before their IPO. It found that 92 percent of the people hired by those companies over the four decades came on after the IPO.” (“The IPO Market, An Engine Of Job Growth, Stalls, The Associated Press, 10/24/11)

“…Nasdaq OMX, which owns the Nasdaq Stock Market, examined companies that went public from 2001 to 2009 and found that they increased their collective work force by 70 percent.” (“The IPO Market, An Engine Of Job Growth, Stalls, The Associated Press, 10/24/11)

Tags: US Senate, small business, Senate, vote, Small Company Capital Formation Act, 2011 To share or post to your site, click on "Post Link". Please mention / link to the ARRA News Service. Thanks!
Posted by Bill Smith at 7:48 PM - Post Link


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