WASHINGTON - Today, the Oversight and Government Reform Committee released a new video entitled “SEC & the JOBS Act: Just Do Your Job." In the video, Subcommittee on Financial Services Chairman Patrick McHenry calls on Securities and Exchange Commission (SEC) Chairman Mary Schapiro to begin implementation of the Jumpstart Our Business Startups Act, or JOBS Act, which President Obama signed into law April 5, 2012.
It has been revealed that Chairman Schapiro unilaterally pushed back against the job creation provisions in the bipartisan law because of the influence of a lobbyist and the concern over her own “legacy." The continued restricts critical access to capital for American small businesses, slowing economic growth, hiring, and the creation of new jobs.
“Congress passed this bill - President Obama signed it into law - What’s more important: American entrepreneurs and getting this economy moving again, or a lobbyist and the legacy of one individual?" said Chairman McHenry in the video.
Read the SEC emails here.
Read Chairman McHenry’s letter here.
