Senate Proposes New Legislation to Woo Entrepreneurs Abroad
Senator Jerry Moran (R-KS) is leading a bipartisan group in the introduction of a new bill that would encourage foreign entrepreneurs to bring their new businesses to America.
Named Startup Act 3.o, the legislation would allow said entrepreneurs to reside in the Unites States for three years, provided they employ five full-time workers who are not family members. The new program would be available to up to 75,000 immigrants with an H-1B or F-1 visa who have registered a business that employs at least two full-time workers, and invests or is raising funding of at least $100,000. The bill contains various incentives such as:
- Elimination of the per-country caps for employment-based immigrant visas which hinder U.S. employers
- Institutes a permanent the exemption of capital gains taxes on the sale of startup stock held for at least five years so investors can provide financial stability at a critical juncture of firm growth
- Creates a limited research and development tax credit for young startups less than five years old and with less than $5 million in annual receipts. This R&D credit is designed to allow startups to offset employee taxes, a vital tool to aid expansion and job creation.
“Entrepreneurs who have an idea, who are wiling to invest money here, ought to be welcome here,” Moran said recently.
A message from John Furrier, co-founder of SiliconANGLE:
Support our mission to keep content open and free by engaging with theCUBE community. Join theCUBE’s Alumni Trust Network, where technology leaders connect, share intelligence and create opportunities.
- 15M+ viewers of theCUBE videos, powering conversations across AI, cloud, cybersecurity and more
- 11.4k+ theCUBE alumni — Connect with more than 11,400 tech and business leaders shaping the future through a unique trusted-based network
Are you an AWS customer? Support SiliconANGLE financially by buying your AWS services from our Marketplace portal page and links: https://siliconangle.com/aws-marketplace/
About SiliconANGLE Media
SiliconANGLE Media is a recognized leader in digital media innovation, uniting breakthrough technology, strategic insights and real-time audience engagement. As the parent company of SiliconANGLE, theCUBE Network, theCUBE Research, CUBE365, theCUBE AI and theCUBE SuperStudios — with flagship locations in Silicon Valley and the New York Stock Exchange — SiliconANGLE Media operates at the intersection of media, technology and AI.
Founded by tech visionaries John Furrier and Dave Vellante, SiliconANGLE Media has built a dynamic ecosystem of industry-leading digital media brands that reach 15+ million elite tech professionals. Our new proprietary theCUBE AI Video Cloud is breaking ground in audience interaction, leveraging theCUBEai.com neural network to help technology companies make data-driven decisions and stay at the forefront of industry conversations.
