Washington, DC—Today, U.S. Representative Jim Renacci (OH-16) released the following statement after the House approved H.R. 3606, the Jumpstart Our Business Start-ups (JOBS) Act:

“Every American company started out as someone’s idea and came into being through their hard work and dedication. As a small business owner for 28 years, I know firsthand the risks and rewards associated with starting your own company and building it from the ground up. Traditionally, small businesses have been responsible for 70 percent of the new jobs created in American, and start-ups have created over 40 million jobs over the last three decades. Unfortunately, the past several years has seen a 23 percent decrease in the number of new business starts.

“Clearly, the massive level of uncertainty and miles of red-tape originating from Washington are making it harder for entrepreneurs to take the first steps toward realizing their dreams. Today, the House took yet another step toward improving the environment for entrepreneurs, new start-ups and small businesses. The JOBS Act is a combination of common sense, bipartisan proposals that will make it easier for companies to raise capital, go public and expand. It is also a package that received high levels of support from both parties.

“The approval of this bill is a great example of bipartisan legislation that works to get government out of the way of the private sector. That is where sustainable economic growth originates, and I think it is an excellent sign so many members of both parties supported it.”

Rep. Renacci is serving his first term in the U.S. House of Representatives, where he is a member of the Financial Services Committee. Prior to his election he worked as a Certified Public Accountant in the health care industry, and owned and operated over 60 other businesses in the automotive and sports management fields.

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