President Obama scheduled to sign JOBS Act into law Thursday

President Obama scheduled to sign JOBS Act into law Thursday

Credit: Getty Images

WASHINGTON, DC - APRIL 04: Surrounded by members of Congress and U.S. Vice President Joe Biden, U.S. President Barack Obama signs the STOCK Act into law at the Eisenhower Executive Office Building April 4, 2012 in Washington, DC. The STOCK Act is a bipartisan bill that prevents members of Congress from trading stocks based on nonpublic information they gleaned on Capitol Hill. (Photo by Win McNamee/Getty Images)

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by Ray Preston, KMOV

KMOV.com

Posted on April 5, 2012 at 5:59 AM

Updated Thursday, Apr 5 at 9:23 AM

Washington, DC (KMOV / Belo) -- President Obama is scheduled to sign a new jobs bill into law today aimed at helping smaller companies grow bigger and both republicans and democrats are supporting this one. 

On the political stage it looks good for the lawmakers to come across like they're working together.      
These public bill signing ceremonies were common early on in the Obama administration.

In recent months the President has tried to distance himself from an unpopular congress.  But for the second day in a row - leaders of both parties will show up for the ceremony.
Wednesday he signed the "Stock Act" which basically prevents federal officials, members of congress and their families from making money by so-called "insider trading." 
Today it's the "JOBS" Act which stand for "Jump-start Our Business Start-up" Act..
   
This is supposed to encourage small companies to hire people by cutting back on regulations and making it easier for smaller companies to raise money from investors.
   
Like anything else, the "JOBS" Act has its critics.  They say it could wind up hurting small companies - instead of helping them. Two things could happen. Some smaller companies could get in over their heads trying to raise money from investors, and hurt themselves.  Also, since those companies won't be required to disclose as much financial information as they used to, investors could get ripped off.  Either way, those critics say when it comes to regulating businesses, congress doesn't know what it's doing. 
               
Public approval of congress is so low, some people in both parties want to find common ground on something so they can show voters they actually did more than just argue all the time.  
           
Since President Obama wants to show he can work with republicans too, there's a chance we could see more of this kind of thing. 
 

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