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The Jumpstart Our Business Startups Act (JOBS) is being debated in Congress, but it has some strong critics.
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The senate plans to take up a new package of proposals to help small -- the house approved it with overwhelming bipartisan support.
But some senators worry it will hurt investors buy.
Unfortunately the legislation.
That the house has sent to us which is promoted as a job creation bill is no such thing.
The name of job creation house bill with severely weaken.
Investor and taxpayer protections.
In our securities laws.
The bill includes measures that would allow small firms to raise capital by going public more easily and -- lower cost.
Another provision would lift the ban on entrepreneurs from soliciting investors through advertising.
And there's a provision to allow more private investors up to 2000 of them to investing community banks without SEC registration.
President Obama supports provisions of the bill but wants lawmakers to find common ground by supporting the most effective aspects of the house bill while also improving -- to ensure there are sufficient safeguards to prevent abuse and protect investors.
Major consumer public interest an investor groups are lobbying to toughen up key provisions of the legislation.
That's it for this edition of the small business report I'm Peter Barnes Fox Business Network.
