Warner urges administration support for Startup Act
In December, Sens. Moran and Warner introduced legislation called The Startup Act (S. 1965) to jumpstart the economy through the creation and growth of new businesses.
“Last night, in your State of the Union address, you called on Congress to pass an agenda that helps startups and small businesses succeed. We have introduced such a bill to harness the job-creating potential of entrepreneurs,” the senators said. “In the Startup Act, we address the need to reduce regulatory burdens, provide tax relief to help startups grow, support research conducted at American universities that will spur innovation, and we create new opportunities for American-educated foreign students to stay in the United States where their high-tech skills will fuel growth in our country.”
“You asked for an agenda that accomplishes these very goals, and we could not agree more,” the Senators wrote. “We stand ready to work with you on these issues.”
Many of the measures in the Startup Act are also supported by President Obama’s Council on Jobs and Competitiveness. In fact, seven of the recommendations from the Council’s interim report in October are addressed in the Startup Act.