Kauffman Foundation's Robert Litan joins Senators to introduce new job creation plan that cites Kauffman research
WASHINGTON, D.C. (May 22, 2012) – Four U.S. Senators today introduced Startup Act 2.0 – bipartisan legislation designed to jumpstart the economy through the creation and growth of new businesses. Startup Act 2.0 builds upon the original Startup Act, introduced by Senators Jerry Moran (R-Kan.) and Mark Warner (D-Va.) in December 2011, and the AGREE Act, introduced by Marco Rubio (R-Fla.) and Chris Coons (D-Del.), in November 2011.
Startup Act 2.0 creates new opportunities for American-educated and entrepreneurial immigrants to remain in the United States where their talent and ideas can fuel economic 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.
Many of the principles included in Startup Act 2.0 are based on the research and analysis of the Kauffman Foundation, and have been endorsed by President Obama's Council on Jobs and Competitiveness. Kauffman Vice President of Research and Policy, Robert E. Litan, joined in the news conference where the Senators presented Startup Act 2.0.
"Kauffman's research solidifies the wealth of contributions new firms make to job creation and the economy, and the time is ripe for legislative action that will fuel our nation's entrepreneurial engine," said Robert E. Litan, Kauffman Foundation Vice President of Research and Policy. "We need reforms such as better access to capital, visas for STEM graduates and foreign-born entrepreneurs, and regulatory improvements for new firms to start, hire and innovate."
In 2011, 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.
Read a full summary of the Senators' Startup Act 2.0