Over the weekend, NPR highlighted the Entrepreneur Access to Capital Act (H.R. 2930), Rep. Patrick McHenry’s (R-NC) bipartisan jobs bill that passed the House earlier this month but remains stuck in the Democratic-controlled Senate. NPR says the bill “removes barriers to doing business” for small businesses, eliminating restrictions that prevent job creators from using “crowdfunding” to help expand and hire new workers. Here’s more from NPR’s report:
“The vote was 407 to 18 in favor of the Entrepreneur Access to Capital Act. If passed, it would allow entrepreneurs to crowdfund. That means they could raise money over the Internet through relatively small donations from people they don't know. The bill removes barriers to doing business – but this time for the little guy. …
“It currently allows business owners to raise up to $2 million from an unlimited number of individuals who can invest as much as $10,000 each.”
Rep. McHenry’s bill not only passed the House by an overwhelming bipartisan margin; as NPR noted, “a version of the crowdfunding bill is also in the jobs plan President Obama” outlined earlier this year. And yet, Senate Democrats still haven’t scheduled a vote on this or any of the other bipartisan House-passed jobs bills awaiting action. Speaker Boehner said President Obama should “dislodge” jobs bills like this “and ensure they are brought to a vote” by calling on the Senate to act immediately.
While the Democrats running Washington drag their feet, the House will vote on three more jobs bills this week to empower small businesses and reduce government barriers that make it harder for them to create jobs. Click here for a preview of these three jobs bills, and visit jobs.GOP.gov to learn more about the Republican Plan for America’s Job Creators.