The JOBS (Jump-start Our Business Start-up) Act, which is designed to facilitate the ability of small companies and startups to raise capital, was approved by a vote of 73 to 26 in the Senate today, with minimal changes. The legislation will now be sent back to the House so that both chambers can work out the kinks. It is anticipated that a final revised bill will be agreed upon in fairly short order and will be sent to the President as early as next week for final approval.

For a brief yet solid overview of what the new legislation will mean for small business owners and companies once it passes, click on Edward Wyatt’s New York Times article entitled, “Senate Passes Start-Ups Bill, With Amendment” now.