- October 10, 2017
- Posted by: matt
- Category: Blog
Like many people, Iâ€™ve sadly lost much hope that Congress will ever pass any legislation that addresses issues that I care aboutâ€”tackling inequality, supporting economic development, creating new job opportunities across America.Â But, Iâ€™m going to try to overcome my reservations with a strong vote of confidence for the new Startup Act of 2017 (S. 1877).Â This is a bipartisan bill introduced by Senators Moran (R-KS) and Warner (D-VA), along with Senators Blunt (R-MO) and Klobuchar (D-MN).
The Startup Act is a bit of a grab bag, and itâ€™s unlikely that the bill can or will pass in its present form.Â Â However, sections of the Act could be passed on their own or be included in other bills as they move through Congress. Thus, itâ€™s important that economic development advocates voice their support for the bill and its key provisions.Â These include:
- New visa programs to attract foreign entrepreneurs and high level graduate students seeking degrees in STEM-related fields.
- Additional funding for the Economic Development Administrationâ€™s Regional Innovation initiatives.
- Promotes accelerated commercialization of taxpayer funded research
- Creates new mechanism to assess the impact of new federal regulations on entrepreneurial companies.
The bill was introduced in late September and weâ€™ll continue to provide updates on its progress in the 115th Congress.