Chairman Bachus: President Should Use State of the Union to Call for End of ‘Senate Stall’ on Jobs Bills

Chairman Bachus: President Should Use State of the Union to Call for End of ‘Senate Stall’ on Jobs Bills 

During his State of the Union address next week, President Obama should call on the Senate to pass legislation that helps small businesses access capital so they can create jobs, said Financial Services Committee Chairman Spencer Bachus.

Four bills that originated in the Financial Services Committee and later passed the House would make it easier for small businesses to access capital, but the Senate has yet to take action on the proposals.

Those four bills join more than two dozen other jobs bills that have been approved by the House but are stuck in the Senate.

“President Obama has a golden opportunity during his speech to call for an end to the ‘Senate stall’ so these bipartisan bills can become law and help create jobs,” said Chairman Bachus.  “For the sake of the millions of Americans who desperately need jobs, he shouldn’t let this opportunity slip through his fingers.”

Each of the four Financial Services Committee bills gained overwhelming bipartisan support when they were considered by the House in early November.  The bills would eliminate government regulatory barriers to small business capital formation and create new sources of capital for small business investments and hiring.  Read more.