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President Obama marked the 1-year anniversary of the Startup America Partnership on Tuesday by announcing his legislative plans for the program.
The so-called Startup America Legislative Agenda is designed to increase innovation in regions and sectors where entrepreneurship is lagging behind. It includes a wide-range of bills that target taxes, immigration, federal programs and initial public offerings.
Startup America chairman Steve Case believes the following measures will reinvigorate America's entrepreneurs.
1. Crowdfunding. Startups and venture capitalists have successfully connected through online funding platforms. President Obama wants to increase access, creating a national network of funding.
2. Investment incentives. The Startup America Legislative Agenda includes a number of provisions that are designed to increase investment. This includes a capital gains tax cut for 5-year investments and a $1 billion funding increase to the Small Business Investment Company program.
3. Reinvestment. The agenda also makes some small business tax cuts permanent so firms can reinvest savings. A 10% income tax cut for those who add new jobs is also part of the offering.
4. IPO on-ramp. President Obama is also urging Congress to adopt the recommendations of the IPO Task Force. If passed, it would be easier and less costly for emerging companies to go public.
5. Immigration. The legislation also encourages foreign-born entrepreneurs to start businesses instead of going home after they earn degrees. It also removes some country-specific immigration caps.
To learn more about the Startup America Partnership and related legislation, visit one of the 17 regional offices, or attend one of the 14 events behind held in the program's honor. If you like what you hear, contact your representatives.