Senators Unveil Startup Act 2.0
Four U.S. Senators (Chris Coons, D-DE; Jerry Moran, R-KS; Marco Rubio, R-FL; Mark Warner, D-VA) yesterday introduced Startup Act 2.0. This Bipartisan legislation, which combines two pieces of legislation that were introduced last year builds upon the original Startup Act and the AGREE Act, highlights four major components to jumpstarting the nation’s economy:
- Creating new opportunities for American-educated and entrepreneurial immigrants to remain in the United States where their talents and ideas can create American jobs
- Alleviating regulatory burdens that make it more difficult for businesses to expand and create jobs
- Changing the tax code to encourage investment in startup companies
- Using existing federal funds for R&D to support innovation at American universities
With many principles of the Startup Act 2.0 based on research and analysis from the Kauffman Foundation, Kauffman Vice President of Research and Policy, Robert Litan, joined the news conference where the Senators presented the legislation. He spoke on behalf of the Foundation when stating that our research continues to solidify the impact new firms have on our nation’s economy and encouraging policymakers to seize this opportunity to take the appropriate legislative action. Also joining the press conference was Steve Case, the former CEO of AOL and a staunch advocate for policy changes that improve the business climate for entrepreneurs.
Read a full summary of the Senator’s Startup Act 2.0.