Entrepreneurship

Senators Introduce Bipartisan Startup Act

Release Date: 12/8/2011

Legislation cites Kauffman's research as basis for job creation proposal 

Citing data from the Ewing Marion Kauffman Foundation, U.S. Senators Jerry Moran (R-Kan.) and Mark Warner (D-Va.) this morning introduced bipartisan legislation aimed at jumpstarting the economy through the creation and growth of new businesses.

"Kauffman research makes clear that there is a need for a major legislative jumpstart of our nation's entrepreneurial engine," said Carl Schramm, Kauffman Foundation president and CEO. "With virtually all net job creation coming from companies less than five years old, entrepreneurs are a critical force for U.S. economic growth."

Kauffman Senior Scholar Brink Lindsey joined a news conference where Senators Moran and Warner outlined their five-prong approach:

1)    reducing regulatory burdens;
2)    attracting business investment;
3)    accelerating the commercialization of university research;
4)    attracting and retaining entrepreneurial talent; and
5)    encouraging pro-growth state and local policies.

Earlier this year, the Kauffman Foundation presented a proposal of ideas it called the Startup Act that offered policy reforms that would make it easier for new firms to start and grow.

To read a full summary of the Senators' Startup Act, click here.