Wagner Statement at Today's Oversight and Investigations Subcommittee Hearing on SEC’s Failure to Implement Title II of the Jobs Act

Washington, DC – Congresswoman Ann Wagner (R-MO) made the following opening statement at today’s Financial Services Oversight and Investigations Subcommittee hearing: Examining the SEC’s Failure to Implement Title II of the JOBS Act and its Impact on Economic Growth

(Remarks as Prepared)

Thank you Mr. Chairman.

Ever since the JOBS Act was passed a little over a year ago, the mood amongst entrepreneurs and investors in the St. Louis region has gone from excitement and anticipation to frustration and bewilderment at the SEC’s inability to implement vital portions of the bill – in particular Title II.

Adding insult to injury, it appears that the SEC’s inaction on Title II is not due to the complexity of the issue itself.

Indeed, it is both ironic and unfortunate that a bipartisan success such as the JOBS Act has been held up at the SEC for what appears to be political reasons.

The JOBS Act was a success not just because of the policy it put in place, but because of the bill’s implicit recognition that it is entrepreneurs, risk takers, and fresh ideas that power the American economy.

The idea that one federal agency would put all of this on hold for no valid reason is, quite frankly, part of the reason why so many people have lost faith in Washington.

With this in mind, I look forward to hearing today about when exactly we can expect the JOBS Act to be fully implemented.