“JOBS Act Falls Short Of Grand Promises” by Dina El Boghdady

Reference: Washington Post

When lawmakers unveiled the carefully named Jobs Act a year ago, backers expected it to get caught up in the typical grind of Capitol Hill: vigorous debate followed by a long wait for a vote that might never happen.

Instead, the legislation sailed through — perhaps too fast. Even supporters say they expected more time to work out the kinks in the Jumpstart Our Business Startups Act, which aimed to help small, private firms raise money and grow so they could hire more workers.

Now, nearly a year after its enactment, major portions of the act are in limbo, and other parts have failed to measure up to the grandiose job-creation promises.

The act underscores how difficult it can be for Washington to spur job creation, even when there’s strong bipartisan consensus on a plan. President Obama hailed it in a Rose Garden ceremony as “exactly the kind of bipartisan action needed” to help the economy. Republicans claimed it as their own. The measure came together months before last year’s election, making it politically difficult to resist a proposal that promised to yield jobs.

To read more, click here.