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Congress Approves Small Business Investment Bill

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Congress has passed a new bill aimed at making it easier for small companies to attract investors, The Washington Post reports.

The Jumpstart Our Business Startups Act lifts advertising restrictions on entrepreneurs soliciting new investors and permits.

The JOBS Act also permits crowdfunding to raise equity capital from small investors.

The House first approved the bill earlier this month and the Senate approved it last week after adding policies targeted toward preventing credit scams, the Post reports.

Under the new bill, small private companies that sell more than $50 million in public shares are required to register with the Securities and Exchange Commission.

The bill also increases the number of allowed shareholders at those companies from 500 to 1,000, according to the Post.

The bill now goes to President Barack Obama for signature.

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