Senate Republicans push for package of new laws to aid small business, retail investors – By Thomas Franck (CNBC) / April 4, 2022
- Senate Republicans unveiled a plan to spur business by tailoring regulation and ensuring retail investors have access to young ventures.
- “The JOBS Act helped to revitalize interest in the public markets and spur economic growth, but it is clear significant work remains,” said Sen. Pat Toomey, R-Pa.
- A bipartisan bill included in the draft would require the Securities and Exchange Commission to study access to private capital in rural areas of the country.
- Another provision that could face Democratic opposition would make it more difficult for stakeholders to submit proposals at a company’s shareholders meetings.
Senate Republicans on Monday unveiled a plan to accelerate new business enterprises by encouraging young firms to trade on public markets, protecting retail investors and tailoring regulations for smaller companies.
The discussion draft released by Sen. Pat Toomey, R-Pa., is an early attempt to solicit feedback from Republicans and Democrats on nearly 30 bills that could help businesses tap capital in both the public and private markets.
Toomey, the ranking member on the Senate Banking Committee, named the proposal after the landmark JOBS Act of 2012, which celebrates its 10-year anniversary on Tuesday. That law’s acronym stands for Jump-start Our Business Start-ups.
The new JOBS Act 4.0 draft comes more than a year after Toomey requested plans to boost gross domestic product growth and job creation by increasing access to capital, his office said.
CONTINUE > https://www.cnbc.com/2022/04/04/senate-republicans-push-for-new-capital-formation-laws.html
