Fincher Passes a Bill in Congress

Rep. Stephen Fincher’s bill aimed at making it easier for small- and medium-sized businesses to go public passed the House on Thursday, marking the first major legislative victory for the first-term Republican from Frog Jump, according to Gannet Tennessee.
Fincher’s bill formed a key piece of a larger jobs package designed to spur the growth of start-ups and help small businesses raise capital. The group of bills passed the House 390-23 in a rare moment of bipartisan agreement. All of Tennessee’s House members voted for it except Republican Rep. John J. Duncan, Jr. of Knoxville, who did not vote
. “This was a good day, hopefully, for the workers in America, the job creators who can do some positive things for people who are hurting and unemployed,” Fincher said after the vote.
His measure would reduce regulatory costs for an initial public offering by creating an IPO “on-ramp” for companies with less than $1 billion in annual revenue, phasing in certain requirements over five years. Those requirements now take effect as soon as – or in some cases before – a company goes public.

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