House Republicans have embraced at least one proposal inPresident Barack Obama's jobs package: changing the rules to makeit easier for closely held companies to raise money without goingpublic.
Republicans have already lined up with hearings and bills tosupport expanding exemptions from U.S. Securities and ExchangeCommission rules for companies trying to raise capital, and twolawmakers introduced legislation yesterday.
The idea was contained in a single line from the president'sspeech to Congress last week, where he pledged “to cut away the redtape that prevents too many rapidly growing start-up companies fromraising capital and going public.”
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