Bipartisan Group of Senators Introduce Startup Act

A news release today from Sen. Jerry Moran (R., Kans.) stated that, “U.S. Senators [Moran], Mark Warner (D-Va.), Roy Blunt (R-Mo.) and Amy Klobuchar (D-Minn.) today reintroduced the Startup Actbipartisan, cutting-edge legislation to encourage job creation, grow entrepreneurial activity, increase innovation and advance economic development.

“The Startup Act would accelerate the commercialization of university research and creative inquiry that can lead to new ventures, review and improve the regulatory processes at the federal, state and local levels, and modernize a critical Economic Development Administration (EDA) program to spur economic growth and promote innovation. The widely-supported legislation also creates both entrepreneur and STEM visas for highly-educated individuals so they can remain in the United States legally to promote new ideas, fuel economic opportunity and create good-paying American jobs.

“‘America continues to fall behind in new business development and struggles to retain top talent that could grow our U.S. economy,’ said Sen. Moran. ‘With a renewed sense of urgency, Congress must prioritize policies that will help recruit and retain highly-skilled students and innovators, bolster a pro-growth environment and enable entrepreneurs to transform ideas and research into companies and products – creating meaningful, good-paying jobs for Americans in the process. Thank you to Senators Mark Warner, Roy Blunt and Amy Klobuchar for continuing to prioritize this important legislation to help make certain America remains the best place in the world to bring an idea to market and grow a business.'”

The release added that, “Data shows that international students studying in the U.S. on temporary visas accounted for nearly two-fifths of all Ph.D.s in STEM fields – that number has doubled over the past three decades. Further, international doctoral students were significantly more likely than domestic students to major and earn degrees in STEM disciplines in the U.S.”

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