As early as today, the U.S. Senate is scheduled to begin debating the JOBS Act bill, which includes crowdfunding as a means of funding startups. We'll bring you the news as we get it.
In the meantime, here's a good explainer from CNET about the bill and crowdfunding.
And here is a call to action in the Huff Post. Also, Steve Case, co-founder of AOL, chairman of Startup America and a serial entrepreneur, has been tweeting his support of the JOBS Act constantly.
Sherwood Neiss of Miami Beach has been a tireless proponent of crowdfunding and is in Washington now. He's also been urging letters and calls to your senator, social media campaigns, etc Here's what he says in an email: The JOBS Act "includes the majority of the Crowdfunding framework that we originally brought to DC, was used by Representative McHenry (R-NC) as the basis for HR2930, and was endorsed by the President. Several components of the framework were also included in the Senate version and many of our ideas are the ones used in the bipartisan Merkley/Bennet/Brown/Landrieu compromise that was offered as an amendment to the Crowdfunding portion of the House-approved Bill. Everyone is in agreement. Solving the funding problem faced by our nation's job creators is a smart thing. Crowdfund Investing (CFI) is a great idea but it has to take place in a marketplace that is transparent and accountable. However, without a Senate-passed bill, crowdfund investing won't exist ... It is important that if you support Crowdfunding you have your voice heard Tuesday!"
Not everyone is in agreement, of course. Regulators and others have raised concerns the JOBS Actt bill will spur rampant fraud. Read Bloomberg editors' take here. And another view in the Huff Post here.