Steve Case is correct (“Hey, Washington, the JOBS Act You Passed Is Working,” op-ed, April 3) that the regulatory relief from the JOBS Act is a large factor in the growth of initial public offerings, and that this IPO boom portends job creation and other good economic news. He’s also right that the law’s passage in 2012 “provides a model” of “compromise and courage.”
The good news is that on March 14 the House Financial Services Committee acted on this model and unanimously passed H.R. 3623, a bill referred to as the “JOBS Act 2.0.”
Introduced by Rep. Stephen Fincher (R., Tenn.), sponsor of the original JOBS Act, and freshman Rep. John Delaney (D., Md.), a former venture capitalist, the bill would cut red tape further for small and midsize firms going public. It would make it easier for these firms to conduct roadshows before their IPOs, and in some cases it would lengthen the JOBS Act’s exemption period from some of the most onerous rules of Dodd-Frank and Sarbanes-Oxley.
On this bill and other bipartisan regulatory relief measures from the House, it’s time for the Senate to embrace the JOBS Act model of compromise and courage.