Startup Act 2.0 Introduced in House

June 6, 2012

Tuesday, several Members led by Reps. Michael Grimm (R-NY) and Loretta Sanchez (D-CA) introduced the House companion bill of the Startup Act 2.0. The House bill contains the same language as the Senate bill introduced a couple of weeks ago by Sens. Moran, Warner, Coons, and Rubio.

By, among other things, requiring a cost-benefit analysis of all proposed rules with an economic impact of $100 million or more, creating two new visa categories for immigrant workers and entrepreneurs, and providing much-needed R&D tax credits and capital gains exemptions, this legislation will not only help alleviate the disproportionate burden federal regulations place on small firms, but it will also help America’s entrepreneurs and small business community attract and retain the highly-skilled talent they need to create jobs and expand their businesses, and the tax credits and exemptions necessary to maintain sustainable economic growth.

NSBA looks forward to working with Reps. Grimm and Sanchez, as well as the other co-sponsors of this bill to help enact this critical piece of legislation.