In occurrences as rare as a total eclipse of the sun or a DUI-free week of motoring by Lindsay Lohan, Congress suspended its partisan political warfare once during the past three months and came together to support job creation and entrepreneurial firms. This development provides rays of hope and optimism amid an all too bleak economic and political landscape. Two legislative proposals — one already law — are testaments to responsible government. The legislation is the Jumpstart Our Business Startups (JOBS) Act and Startup Act 2.0.
The first is a law intended to encourage funding of U.S. small businesses by easing various securities regulations. It passed with bipartisan support, and was signed into law by the President of the United States on April 5, 2012.
The legislation extends the amount of time that certain new public companies have to begin compliance with certain requirements, including those that originated with the Sarbanes–Oxley Act, from two years to five years.
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Read: “Bipartisan Congressional effort a boost for entrepreneurs,“ an article by The Miami Herald.