JOBS ACT TO BOOST STARTUP FIRMS

Miami Herald

KEN THOMAS

WASHINGTON — President Barack Obama signed bipartisan jobs legislation Thursday that will help small businesses and make it easier for startups to raise capital.

“When their ideas take root, we get inventions that can change the way we live,” Obama said in the Rose Garden, flanked by lawmakers and entrepreneurs. “And when their businesses take off, more people become employed.”

Some Democrats, however, raised concerns that the so-called JOBS Act, or Jumpstart Our Business Start-ups, softened investment protections enacted after the dot.com excesses and Wall Street meltdowns and the changes could lead to fraud and abuse.

Speaking to an invited audience that included entrepreneurs — including South Floridians Albert Santalo, founder, president and CEO of CareCloud; and Zalmi Duchman, founder and CEO of The Fresh Diet — Obama indicated that he’s aware of those concerns and has directed top officials to “keep a close eye” on how it goes into effect.

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