Engine Advocacy is excited to report that legislation was introduced in the in the House yesterday to partner with Startup Act 2.0, a bipartisan bill unveiled two weeks ago in the Senate. Startup Act 2.0 addresses the critical needs of startups, especially on issues such as immigration, innovation, and capital gains. As a result, we’ve launched an action page to help our members and startups like them support this legislation.
Adoption of the bill would make startups more competitive, flexible, and capable of delivering market-leading products and services to American customers. In turn, startups can continue driving job growth in the U.S. economy.
We applaud Senators Jerry Moran, Mark Warner, Chris Coons, and Marco Rubio as well as Representatives Michael Grimm, Loretta Sanchez, Kevin Yoder, Jared Polis, Devin Nunes, Russ Carnahan, and Robert Dold for introducing this much-needed legislation and ask their colleagues to join in putting startups and small businesses first in Washington.
Bill Highlights:
- Provides startups access to highly-skilled Science, Technology, Engineering, and Math (STEM) graduates from overseas by easing the path for STEM MA and PhD students to find work after graduation and stay in the U.S. after they start work.
- Creates new visas for foreign-born entrepreneurs who play a critical role in the formation of new businesses, especially in engineering and technology fields.
- Incentivizes quickly moving research and development from the laboratory to the marketplace through tax credits for R&D and repurposed federal grants.
- Improves startups’ access to capital by creating a capital gains tax exemption for startup companies.
To show support for this innovative legislation, we are encouraging all of our members and their users to call their representative and let them know that now is the time for Washington to get to work for startups.
