JOBS Bill Passes, And Then….
@ Politico.com -
More stringent safeguards for investors were added and now it heads back to the House.
Senators passed the JOBS Act on a 73-26 vote Thursday, two weeks after the House voted 390-23 to approve it. The measure is backed by President Barack Obama in a rare, election-year agreement in a polarized Washington.
But Democrats and several Republicans successfully changed the bill in a way they said would provide more stringent safeguards for investors. That means it now heads back to the House, instead of to the president’s desk for his signature.
White House spokesman Jay Carney said President Barack Obama was “grateful” for the vote and called on the House to swiftly pass the bill when it hits the floor early next week.
“We are heartened by the important investor protections added to the crowdfunding provision,” Carney said, “and will be vigilant in monitoring this and other elements to ensure the overall bill achieves its goal of helping entrepreneurs while maintaining protections for investors.”
Senate Republicans had generally opposed changes to the House-passed version, which was primarily shepherded in the House by Majority Leader Eric Cantor (R-Va.). But Cantor said the House will vote next week on the Senate version of the bill.