Report from The Hill
by Pete Sessions on December 8, 2013 at 2:40 PM
This week, the House approved two common-sense bills that would help small businesses innovate, grow their companies, and hire more workers. These two bills join the long list of House-passed jobs bills that would help to reenergize our economy and get Americans back to work.
On Wednesday, the House passed the Small Business Capital Access and Job Preservation Act to promote the free-enterprise system and encourage private sector investment. Specifically, H.R. 1105 exempts private equity fund advisers from being hit with an unprecedented number of costly rules and regulations under the Dodd-Frank Act. Forcing these advisers to complete expensive and unnecessary filings does little more than divert capital, time, and effort that should instead be spent investing in growing companies.
On Thursday, the House approved the Innovation Act to protect our patent system and promote transparency in the patent litigation process. America’s patent system serves as a key tool to our nation’s competitiveness and economic security by promoting American ingenuity through the protection of property rights. Unfortunately, our nation’s businesses are facing a drastic increase in meritless patent infringement lawsuits by “patent trolls” that place an unnecessary burden on entrepreneurship and cost job creators tens of billions of dollars each year. The Innovation Act will help stop these frivolous lawsuits so that America's businesses can focus on expanding and hiring more employees.
With millions of Americans currently looking for work, I was pleased to join my colleagues this week in voting for two meaningful pieces of legislation that will help create jobs. I call on the Senate to join us in approving these two bills, as well as the several others that we have approved this Congress.