Sen. Toomey Praises JOBS Act In Delaware County
U.S. Senator Pat Toomey (R-Pa.) held an event at a Wawa store in Delaware County April 10 to highlight the JOBS Act.
The JOBS Act, which President Obama signed into law April 5, contains three job-creating bills authored by Sen. Toomey:
• The Small Company Capital Formation Act with Sen. Jon Tester (D-Mont.) (S. 1544): This legislation would cut regulatory burdens on small businesses and make it easier for them to raise much-needed capital through public offerings.
• The Private Company Flexibility and Growth Act with Sen. Tom Carper (D-Del.) (S. 1824): This legislation would raise the shareholder limit from 500 to 2,000 for community banks and non-banks and would exempt employees from this cap. As a result, small businesses will have the flexibility to focus on long-term growth, job creation and creating better environments for their employees.
• The Reopening American Capital Markets to Emerging Growth Companies Act with Sen. Charles Schumer (D-N.Y.) (S. 1933): This legislation would make it easier for growing firms to go public by reducing the hurdles of an initial public offering by phasing in many of the costliest obligations over time.
Many companies, including Pennsylvania's own Wawa, will be able to grow and hire new workers because of the reforms included in the JOBS Act.
U.S Representative Pat Meehan (R-Pa.), Wawa Chief Executive Officer Howard Stoeckel and Wawa President Chris Gheysens also joined the senator at the event in Glen Mills.
