House OKs bill to help startups

Associated Press

WASHINGTON

Showing that they can on occasion work together, House lawmakers on Thursday overwhelmingly passed a package of bills making it easier for small businesses and startups to raise the capital they need to grow and hire new workers.

Republicans praised what they referred to as the JOBS Act, insisting that President Barack Obama’s support for it shows they can work with him in the nation’s interest.

Democrats, while saying the legislation deserved a yes vote, said the measure was a modest effort by Republicans to prove they can accomplish something in an otherwise do-nothing Congress.

Of the six bills in the package, four already had passed the House by large margins. The legislation now goes to the Senate, where Democratic leaders have said they soon will put forth a similar small-business promotion package.

The House vote was 390-23.

Among other provisions, the bills would make it easier for small companies to go public by providing them a temporary reprieve from Securities and Exchange Commission regulations.