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Bipartisan JOBS Act Aids Small Business

The Jumpstart Our Business Startups (JOBS) Act which was signed into law by President Obama on April 4 cuts unnecessary regulations on small businesses such as independent insurance agencies
April 10, 2012

The Jumpstart Our Business Startups (JOBS) Act which was signed into law by President Obama on April 4 cuts unnecessary regulations on small businesses such as independent insurance agencies. In addition, the law raises the prospect that it could fuel business growth and spur demand for business insurance.

The JOBS Act was sponsored by Rep. Stephen Fincher (R-Tenn.). Rep. Fincher, a lifelong farmer and a member of the Financial Services Committee, recently addressed the PIA Federal Legislative Summit. It is one of the few bipartisan economic bills enacted recently. It passed the Senate by a 76-23 vote and by a 380-41 margin in the House.

Republicans, including Rep. Fincher and House Majority Leader Eric Cantor (R-Va.), joined Obama at the signing ceremony.
Cantor said the bill was aimed at “the problem that we face in America today, which is that our economy is lagging and our small businesses are having too hard of a time getting up off the ground.”

“This legislation cuts unnecessary and excessive regulations on small businesses and encourages economic growth, priorities that PIA strongly supports,” said Mike Becker, assistant vice president for federal affairs of PIA National in a statement. “Onerous federal regulation and burdensome taxes are a one-two punch for PIA members who are independent insurance agents and who own and operate small businesses. We’ll continue our fight on Capitol Hill for additional legislation that unties small businesses from such requirements and ensures prosperous growth. We thank Congressman Fincher for moving this bipartisan legislation through a deadlocked Congress, all in the interest of the free market system.”

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