The House today overwhelmingly passed Majority Leader Eric Cantor’s JOBS Act in a rare moment of bipartisanship.
The Virginia Republican’s bill, which had been modified by the Senate last week, passed on a 380-41 vote, with 145 Democrats joining all voting Republicans in supporting it. The measure would remove some regulatory hurdles for small businesses to raise capital.
In a statement following the vote, Cantor hailed its passage: “Both parties in Congress, the President and entrepreneurs like Steve Case came together on this bill that will increase capital formation and pave the way for more small-scale businesses to go public and create jobs. The bipartisan JOBS Act represents an increasingly rare legislative victory in Washington where both sides seized the opportunity to work together, improved the bill and passed it with strong bipartisan support.”
Cantor is hoping to translate today’s bipartisan success into other smaller victories, including with a small-business tax package the House is expected to take up next month.
“We should build on this momentum going forward and use the opportunity provided by the Small Business Tax Cut in April, so we can continue to help small businesses and job creators in this country to grow and hire,” Cantor said.
Vice President Joe Biden waits to conduct a mock swearing-in ceremony with Sen. Brian Schatz, D-Hawaii, in the Capitol's Old Senate Chamber, December 2, 2014. Schatz was sworn in to serve the remainder of his term since he was appointed to the seat after Sen. Daniel Inouye, D-Hawaii, passed away.