"House Passes Hurt Jobs Bill
The House also continued its work on the pressing issue of job creation by passing the Promoting Job Creation and Reducing Small Business Burdens Act with bipartisan support. While the country has begun to experience modest economic growth, unemployment remains too high in Virginia's Fifth District, and wages are not growing enough to make working families feel that our economy has recovered. Small businesses also continue to be stifled by excessive federal regulation that stands in the way of more dynamic job creation across Virginia and our nation.
The legislation passed by the House on Wednesday combines the text of 11 bills, all of which address unnecessary or excessive federal regulations hindering our small businesses from accelerating job growth.
The Small Company Disclosure Simplification Act, which I introduced with my Democratic colleague Congresswoman Terri Sewell during the 113th Congress, was incorporated into the legislation. The provision we introduced removes burdensome regulations for small public companies and requires the SEC to perform a cost benefit analysis on the rule’s impact on these companies, offering a practical step forward to ensure that our regulatory structure does not disproportionately burden smaller companies and dis-incentivize start-ups from accessing the public markets. By streamlining these requirements, small companies will now be able focus on innovating, expanding, and creating jobs.
As the 114th Congress continues, we in the House will continue to advance bipartisan solutions like this one that get Washington out of the way and allow our small businesses and family farms to focus on succeeding and creating good-paying jobs. It is my hope that our colleagues in the Senate will now take up this bill and join us in advancing policies that will spur job creation and economic recovery.
If you need any additional information or if we may be of assistance to you, please visit my website at hurt.house.gov or call my Washington office: (202) 225-4711, Charlottesville office: (434) 973-9631, Danville office: (434) 791-2596, or Farmville office: (434) 395-0120.
Robert spoke with Delegate Lee Ware at the Business Leaders Roundtable on Virginia’s Economic Future.