Two Republican senators have joined two Democratic Senators to try and bust the myth that nothing can get done in an election year. They launched Startup Act 2.0, a bipartisan bill aimed at jumpstarting small businesses to power the US economy.
Senators Marco Rubio (R-Fla.), Chris Coons (D-Del.), Jerry Moran (R-Kan.) and Mark Warner (D-Va.) hope to create an environment in which entrepreneurs from around the world can succeed in creating American jobs.
Startup Act 2.0 picks up where the JOBS Act left off, paving the way for America-educated, entrepreneurial immigrants to remain in the U.S. where their talent and ideas can fuel growth. The bill also alleviates regulatory burdens and 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.
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.
Learn more in a Daily Rundown interview with 2 of the senators…