[Congressional Record Volume 158, Number 45 (Monday, March 19, 2012)]
[Extensions of Remarks]
[Page E381]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                  JUMPSTART OUR BUSINESS STARTUPS ACT

                                 ______
                                 

                               speech of

                         HON. SUZANNE BONAMICI

                               of oregon

                    in the house of representatives

                        Wednesday, March 7, 2012

       The House in Committee of the Whole House on the state of 
     the Union had under consideration the bill (H.R. 3606) to 
     increase American job creation and economic growth by 
     improving access to the public capital markets for emerging 
     growth companies:

  Ms. BONAMICI. Mr. Chair, I rise to support H.R. 3606, the Jumpstart 
Our Business Startups (JOBS) Act, but in lending my support, I must 
insist that we do more to protect consumers and investors than this 
bill currently provides.
  Small businesses are the backbone of Oregon's economy and many have 
been devastated by the recent recession. This Congress must take swift 
action to ensure that they have access to capital and can invest in job 
creation. This bill recognizes that a one-size-fits-all approach to 
regulation can stifle small business growth. The JOBS Act will ease the 
cost and complexity of some securities regulations, and open greater 
access to capital so that startups and emerging companies can thrive. 
This bill is a good, but small, step in the right direction.
  More work must be done to accelerate hiring, and more work, still, 
must be done with this bill to improve consumer and investor 
protections. A number of my colleagues offered amendments with this 
goal in mind. I supported those amendments, and I am disappointed that 
they were not accepted. By ensuring that we are expanding flexibility 
for the smallest startups where it is most needed, and establishing and 
encouraging standards for transparency and disclosure, we can both help 
small businesses grow while also protecting consumers and investors. 
These are achievable goals, and I remain committed to working with my 
colleagues in the House and the Senate on these issues as this bill 
moves forward.
  Strong consumer and investor protections strengthen our economy by 
building confidence in the market. Our work to stand up for consumers 
and reenergize the economy cannot and must not stop here.

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