Wednesday, May 30, 2012
Senator Jerry Moran Helps to Unveil Startup Act 2.0
We first heard about Senator Jerry Moran's (R-Kan.) stance to help support entrepreneurs and foster innovation and technology throughout the Midwest (and beyond) at The Gigabit Challenge Finale back in January. And last week, Senator Moran joined Senators Marco Rubio (R-Fla.), Chris Coons (D-Del.) and Mark Warner (D-Va.) along with Steve Case (President Obama's Council on Jobs and Competitiveness) and Robert Litan (Ewing Marion Kauffman Foundation) to unveil Startup Act 2.0.
Startup Act 2.0 is a bipartisan legislation aimed at jump-starting the economy through the creation and growth of new businesses. The legislation sets out to prove the critics wrong: Congress can get something done during an election year by coming together to strengthen the economy and create jobs.
According to a press release that was sent out last week, the Startup Act 2.0 will do the following:
Startup Act 2.0 picks up where the JOBS Act left off by doing more to create an environment in which entrepreneurs can succeed. Research has shown that for close to three decades, companies less than five years old have created almost all of the net new jobs in America—averaging about 3 million jobs each year. Startup Act 2.0 creates new opportunities for America-educated, entrepreneurial immigrants to remain in the U.S. where their talent and ideas can fuel growth and create American jobs. The bill also alleviates regulatory burdens that make it more difficult for businesses to expand and create jobs. Finally, Startup Act 2.0 makes changes to the tax code to encourage investment in startup companies.
Startup Act 2.0 builds upon the original Startup Act introduced by Sens. Moran and Warner in December, and it has been strengthened by including widely-supported provisions of S. 1866, the AGREE Act, introduced by Sens. Coons and Rubio in November. Many of the principles included in Startup Act 2.0 are based on the research and analysis of the Kauffman Foundation, and are supported by President Obama’s Council on Jobs and Competitiveness.