Rep. Eric Cantor (R-Va.) introduces his JOBS Act Feb. 28 on Capitol Hill.
Rep. Eric Cantor (R-Va.) is spearheading a new piece of legislation he says will help new businesses in the region, but Democrats say it's not nearly enough.
Most substantive bills that have succeeded in the House this session of Congress have passed along party lines, so now Cantor, who's the majority leader, is trying a different tack.
He's cobbled together six bills that already have support from broad majorities, including provisions making it easier for startups to form capital and easing regulations on some small firms that are restricted from going public. Cantor says his bill, which is called the "JOBS Act" is a compromise.
"The White House has said we need to get started jump starting our business startups and that's exactly what this bill does," Cantor says.
The White House is signaling it supports the measure, but Rep. Steny Hoyer (D-MD.) says the legislation won't do enough to spur job creation nationwide.
"We're looking for a comprehensive jobs-producing, jobs-stimulating piece of legislation.," Hoyer says.
Hoyer, who is the number two Democrat in the House, says the country needs legislation more in line with the President Obama's jobs bill, which includes money to help communities rehire laid-off public workers and invest in infrastructure.