Hoyer Floor Statement on the JOBS Act

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Transcript: 

“I rise in strong support of these six pieces of legislation, which have been put together and called a jobs bill. I think they will have a positive effect on economic growth in our country. I think they are good bills.  I particularly support the Himes bill, currently called the Quayle bill, but I’m pleased to support it, by whoever's name it might have on it. Four out of the six components of this legislation have already been previously considered and passed overwhelmingly, so this is a recycle – but doing a good thing twice is not bad, so I’m going to vote for it and I’m going to be enthusiastic about voting for it. As a matter of fact, I suggested a number of these ideas on our side of the aisle.   

“This bill makes it easier for small businesses to go public and raise the capital they need to expand and hire new workers by reducing regulatory burdens. It also raises the SEC registration to free up bank capital for lending to small businesses and individuals. That’s an important step we ought to be taking.  A number of my Democratic colleagues worked hard on these provisions, including, as I said earlier, Rep. James Himes of Connecticut who introduced one of those bills months and months ago.  It passed 420-2 in this body.  He has been a leader on this issue of small business access to capital, and I congratulate him on his efforts.   

“I am glad the Republican leadership is bringing this bill to the floor, and I hope it signals a new willingness to work with us on creating jobs.

“This bill is called a ‘JOBS’ bill. Catchy title. I’ve referred to it as the ‘Just Old Bills’ bill. But they are good bills, and, as I said, doing a good thing twice. I’m hoping the Senate will pass it, and I hope the Senate does pass all these bills and this bill as a package. But make no mistake about it, Madam Speaker, and America should have no doubt about it, this is not the jobs bill America needs. Not tweaking around the edges. Not pretending that we have put something together that's going to create a significant number of jobs. This will help, and in the longer term it will create jobs. I’m for it. I think it's a positive step forward. But make no mistake about it. This is not the jobs bill that the President asked for; this is not the jobs bill that America needs. This is not the jobs bill that millions who are unemployed and can't find employment are crying out for in America.

“America needs a comprehensive jobs plan to help the millions who have lost jobs and are still looking for work.  This bill alone simply is not enough.  We must do more and I will tell my friend from Texas, I’m prepared to work with him on a real jobs bill.  This is a real jobs bill. But you and I both know it's a small bore jobs bill. That doesn't make it bad.  It doesn't mean we shouldn't pass it.  I thank you for bringing it to the Floor, but let us not delude America or deceive ourselves that this is the jobs bill that we need to be passing.”