The goal is to build a more inclusive and resilient economy, one that expands the entrepreneurial playing field to more regions, more players and more industries. Because we know that's how you create good middle class jobs and an economy built to last.
In part, the JOBS Act permits entrepreneurs to raise up to $1 million in any 12-month period with much less stringent requirements. Moreover, non-accredited investors will be permitted to invest up to $2,000 each.
The federal government has squandered upwards of $2 trillion taxpayer dollars trying to stimulate the economy. I don't think we've gotten our money's worth. Let's try complying with existing federal law and direct existing federal infrastructure spending to small businesses.
American service members manage assets and equipment worth millions of dollars with unparalleled diligence, pride and discipline. Their skills and experience make them natural leaders and a large percent later become entrepreneurs.
If President Obama and Congress are serious about stimulating the economy and creating jobs, they will stop giving federal small business contracts to large corporations. But I doubt you will see that happen.
Our young people and college grads need the inspiration and a renewed hope that they too have a chance that at the grass roots level, each has the opportunity to create a better life, to dream, and the possibility to create their financial freedom.
It would be ironic if the U.S. Small Business Administration 2012-2013 budget could break the partisan gridlock in Congress, but House Republicans have offered the Obama administration and Senate Democrats just that opportunity.
Wisely, SBA modified its rules to permit all SBA lenders to participate in the Small Loan Advantage Program effective June 1. The changes are part of SBA's massive modification to its standard operating procedures.
I recently testified before the Senate Committee on Small Business and Entrepreneurship and shared some solutions to not only reduce the subsidy and solidify the SBA 504 loan program, but also enhance the 504 program.
Maybe it was the fact that the administrator was forced to resign and two employees were fired. Truth be told, a lot of administration heads should probably resign. These abuses are not unique to the Obama administration; they've gone on for decades.
The new Contractor Opportunity Protection Act, or "COP" Act, currently in the U.S. House has been crafted to bridge the gap between the lofty goals in the small business laws and the nitty-gritty details of ensuring enforcement.
Small businesses are proven to be this nation's chief engine of economic stimulus and job creation but President Obama plans to close the only federal agency that exists to help America's 28 million small businesses.