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U.S. Sen. Chuck Schumer (D-NY) has been a proponent of the JOBS act.
The Jump-start Our Business Start-ups (JOBS) act just passed the Senate. The House passed a measure with the same objectives, so now it's up to the that body to revise the legislation and move a bill closer to becoming law. You can read a summary here.
This is not legislation that has failed to inspire both support and dismay.
Venture capitalist Fred Wilson loves it:
I'd like to thank our elected officials for coming together in a non-partisan way to address an important set of issues and deal with them sensibly and correctly. This doesn't happen enough in Washington and we need more of this. I know that the majority leadership in the Senate, particularly Harry Reid and Chuck Schumer, fought back a mini revolt among the left wing of its party to get this bill passed. I applaud them for doing that and standing up for something that was not popular in their caucus. That is leadership and I appreciate it and I am sure the readers of this blog do too.