Snap Fact #157

The President’s Patient Diplomacy With The “Loyal” Opposition Is Paying Off With Bipartisan Legislation!
One day after signing the STOCK Bill into law the President has been sent the Jumpstart Our Business Startups Act (J.O.B.S.) which also went through Congress in a strong bipartisan fashion. Having initially breezed through the House by a vote of 380 to 41 and then it ran quickly through the Senate and the Conference Committee. 

Here is a list of the exciting benefits of the law. If you have interest in the details of this legislation you should click the Sources listed at the bottom of this page to see the amazing details behind this summary:
1. Tax Cuts to Help America’s Small Businesses Hire and Grow
2. Putting Workers Back on the Job While Rebuilding and
    Modernizing America
3. Pathways Back to Work for Americans Looking for Jobs.
4. Tax Relief for Every American Worker and Family
5. Fully Paid for as Part of the President’s Long-Term Deficit
    Reduction Plan.
The President got much of what he has been fighting for, but there is still a long way to go. In his short speech at the Rose Garden ceremony the President pointed out that he had publicly called for this Bill in September of 2011 and reemphasized its need during his 2012 State of the Union speech. He also spoke about some major points in the Bill. Some of these points include a new ease for small companies to go public, increased availability of investment money for small businesses, and dramatic tax cuts for small businesses. The President pointed out that he has already cut taxes for small businesses 17 times during his three years in office.

Detractors of the Bill are concerned about protection of investors by unscrupulous promoters. The concern is reasonable because the Bill eliminates SEC oversight of small businesses who want to raise money from the public. Supporters say that the information highway allows concerned investors to check out their risks better than ever before. Whatever opposition came forward, it was basically from the President's Liberal base.