Senate Republicans unveiled a plan to spur business. 'The JOBS Act helped to revitalize interest in the public markets and spur economic growth, but it is clear significant work remains,' Pa.'s SenToomey said.
A proposal from Sen. Thom Tillis, R-N.C., would allow public companies to choose whether to file financial reports quarterly or semiannually"to reduce short-term thinking by public companies and reduce expensive unnecessary regulatory filings."in 2018 after speaking with"business leaders" about obstacles to corporate growth.
Under what is known as the Restoring Shareholder Transparency Act, a shareholder who wishes to include a proposal would have to control at least 1% of the company's securities, an attempt to cut down on what the plan's supporters call"frivolous" submissions. While Republican aides who spoke with CNBC acknowledged that some of the draft's components may face long odds in the current Congress, they added that they expect bipartisan support for portions of the legislation that do not already have a Democratic sponsor.
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