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Senate Passes Jobs Bill

Posted on 3/23/2012

The Senate approved the jobs package (H.R. 3606) yesterday, by a strong bi-partisan vote of 73-26. Passage of the bill quickly followed the Senate's rejection, by voice vote, the Reed amendment on 500 shareholders. The amendment would have gutted the 500-shareholders provisions included in the legislation by changing the definition of the term "held of record" to include "beneficial owners."

The Senate approved an amendment on crowd funding, so H.R. 3606 will now go back to the House for further consideration. House Majority Leader Eric Cantor (R-VA) said yesterday he would schedule a House vote on the package next week "so we can get this bipartisan jobs bill to the President's desk for his signature without delay."

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