Yesterday was another day of positive progress towards investment crowdfunding becoming a reality. Following Tuesday’s Senate hearing on crowdfunding, President Obama and the House of Representatives sent strong signs of support for crowdfunding.
Early yesterday morning, the White House issued a statement in support of H. R. 3606, the Jumpstart Our Business Startups, or JOBS Act. The JOBS Act bundles six bills together, including the previously passed investment crowdfunding proposal, H. R. 2930. Referring to previous signs of support for crowdfunding, the White House statement says, “The President called for cutting the red tape that prevents many rapidly growing startup companies from raising needed capital”, before adding, “The President is encouraged to see that there is common ground between his approach and some of the proposals in H.R. 3606″.
Later in the day, the House passed the JOBS Act 390-23. So in essence, the crowdfunding bill has been passed, again, in the House. Boulder-based Representative Jared Polis called upon the Senate to pass the legislation.