Hickory, NC, June 14, 2012 --(PR.com
)-- Yorktown University announced today that it will confer an honorary M.B.A. in Entrepreneurship on U.S. Rep. Patrick McHenry, R-N.C., for his work as sponsor of the "crowdfunding" provisions in Title III of the Jumpstart Our Business Startups Act. The Act allows small businesses and other enterprises to solicit financing from nonaccredited investors via the Internet. The award ceremony will be held on June 26, 2012 at 3:30 pm in the Congressman's office in 224 Cannon House Office Building in Washington, D.C.
“This single piece of legislation will have enormous economic and social consequences,” Yorktown University President Richard Bishirjian said of Rep. McHenry’s bill. “No longer will the wealth of America's middle classes decline relative to the wealthy. Everyone will now have a shot at investing in companies long before they go public.”
Rep. McHenry’s original bill (H.R. 2930) won overwhelming bipartisan support and was rolled into the Jumpstart Our Business Startups Act, or the JOBS Act, which was signed into law on April 5, 2012.
“Crowdfunding is a key component of the JOBS Act,” Rep. McHenry said after the House of Representatives passed its version of the JOBS Act earlier this year. “Economists predict the legislation will lead to a 10 percent increase in new business startups, helping to create at least 170,000 jobs in the next five years. This bill is critical in getting our economy back on the right track.”
Crowdfunding, Rep. McHenry said, “allows everyday investors the opportunity to support intriguing startups and small businesses, providing much-needed capital for economic growth and job creation.”
The efforts of Rep. McHenry and the passage of the JOBS Act restores “freedoms taken away from American citizens during the New Deal,” said Yorktown University’s Dr. Bishirjian. “Since the New Deal and passage of the U.S. Securities and Exchange Act of 1933, most Americans may invest only in publicly traded stocks that have been made effective by the SEC. Small business may legally solicit investments only from venture funds, angel investors and accredited investors.”
That all changes with the crowdfunding provisions of the JOBS Act, said Dr. Bishirjian, who noted that the legislation “lifts the dead hand of the New Deal from the backs of ordinary American citizens.”
Dr. Bishirjian and current and former Yorktown University Trustees will be present to confer the Master of Business Administration in Entrepreneurship honoris causa.
Yorktown University is an accredited Denver, Colorado-based Internet university committed to the philosophy of limited government of the Founding Fathers, the Judaeo-Christian tradition and philosophic truths that shape our enduring Constitution.
Rep. McHenry is in his fourth term of service to North Carolina’s 10th District, an area that comprises 10 counties in western North Carolina, including all or parts of Catawba, Catawba, Burke and Gastonia counties and the cities of Hickory, Lenoir, Morganton and Cherryville.
The congressman serves as a deputy Republican whip, a post in which he helps manage the legislative priorities of congressional Republicans on the House floor. He is a member of the House Financial Services Committee, which deals with federal legislation related to the securities market, banking, insurance and real estate. He is also a member of the House Committee on Oversight and Government Reform.
A recognized leader of conservative legislators in Congress, Rep. McHenry is the chairman of the House Conservatives Fund and shares the most conservative voting record in Congress on family values issues, according to the National Journal. He is continually recognized as a “Hero of the Taxpayer” by Americans for Tax Reform.
Rep. McHenry has received several additional awards, including the “Guardian of Senior’ Rights” award from the 60 Plus Association, “True Blue” from the Family Research Council and a “Taxpayer Hero” award from Citizens Against Government Waste.
Four other conservative leaders have been honored with Yorktown University honorary degrees: Dr. Arthur Laffer, the leading advocate of Supply-side economics, Paul Weyrich, founder of the Free Congress Foundation, Morton Blackwell, founder of The Leadership Institute and the late E. Victor Milione, president of the Intercollegiate Studies Institute.
Yorktown University is a member of the Association of Christian Schools International and offers its degree programs solely via the Internet. Yorktown University may be visited on the Internet at www.yorktownuniversity.edu
The university’s academic disciplines focus on politics, American history, constitutional law, entrepreneurship, economics and culture. Yorktown University Faculty members are experienced online instructors in mathematics, history, philosophy, government, constitutional law, art history, architecture, religious studies, classics, biology, accounting, marketing.