JOBS Act

JOBS Act

The American Jobs Act comprises two bills proposed by President Barack Obama to a joint session of Congress in September 2011. The proposal involved a collection of measures designed to get Americans back to work after the recession.

Obama assured Americans that the $447 billion bill would not add to the national debt and would be fully paid for. The bill initially failed to garner the necessary 60 votes to proceed. As a result, Obama vowed to break the bill into several smaller derivative bills, including the Jumpstart Our Business Startups Act, which is intended to encourage the funding of small businesses by easing securities regulations. The bill passed with bipartisan support and was signed into law in April 2012.