Politics

Marco Rubio, Mark Warner, Others Team to Bolster STEM Start-ups

By: Jim Turner | Posted: May 23, 2012 3:55 AM
Marco Rubio, Chris Coons, Mark Warner and Jerry Moran

U.S. Senators Marco Rubio, Chris Coons, Mark Warner and Jerry Moran

U.S. Sen. Marco Rubio, R-Miami, has teamed with Sen. Mark Warner, D-Va.,  and others in an unlikely Washington alliance that seeks to expand on the Jobs Act signed into law earlier this year.

The Startup Act 2.0, a proposal by Rubio, Warner, Sen. Chris Coons, D-Del., and Sen. Jerry Moran, R-Kan., is intended to aid new businesses, with an emphasis on those involving science, technology, engineering and math, as a means to boost the economy.
 
“Teaming up with Senators Moran, Warner and Coons on Startup Act 2.0 is a worthy effort to break through Washington’s gridlock and help entrepreneurs create new jobs through key reforms to our tax, visa and regulatory systems,” Rubio stated in a release.

“Startup Act 2.0 is built on ideas that have bipartisan support and could become law tomorrow if Washington stopped playing games and started working for the people.”

The act would create research and development tax credits for new start-ups, make capital gains taxes exemptions permanent for stock sold on new businesses, and create a “STEM” visa system for foreign students with advanced science and technology degrees.

“Working together, we have put together bipartisan proposals that will help us compete and win the global contest for talent,” Warner stated in a release.

“We also propose responsible steps that will help our colleges and universities move taxpayer-funded R&D out of the lab and into the marketplace. Startup Act 2.0 [is] the logical ‘next step’ following enactment of the bipartisan Jobs Act earlier this year.”

Rubio has been the subject of GOP vice president speculators for months. Meanwhile, Warner has been discussed as a potential Democratic presidential candidate in 2016.

Among the proposals of the Startup Act 2.0:

  • Creates a new STEM visa so that U.S.-educated foreign students, who graduate with a master’s or Ph.D. in science, technology, engineering or mathematics can receive a green card and stay in this country where their talent and ideas can fuel growth and create American jobs.
  • Creates an Entrepreneur’s Visa for legal immigrants, so they can remain in the United States, launch businesses and create jobs.
  • Eliminates the per-country caps for employment-based immigrant visas – which hinder U.S. employers from recruiting the top-tier talent they need to grow.
  • -- Makes permanent the exemption of capital gains taxes on the sale of start-up stock held for at least five years – so investors can provide financial stability at a critical juncture of firm growth.
  • Creates a targeted research and development tax credit for young start-ups less than five years old and with less than $5 million in annual receipts. This R&D credit is designed to allow start-ups to offset employee taxes – freeing up resources to help these young companies expand and create jobs.
  • Uses existing federal R&D funding to support university initiatives designed to bring cutting-edge research to the marketplace more quickly where it can propel economic growth.
  • Requires all government agencies to conduct a cost-benefit analysis of all proposed “major rules” with an economic impact of $100 million or more. This new requirement will help determine the efficacy of regulations and their potential impact on the formation and growth of new businesses.
  • Directs the U.S. Department of Commerce to assess state and local policies that aid in the development of new businesses. Through the publication of reports on new business formation and the entrepreneurial environment, lawmakers will be better equipped to encourage entrepreneurship with the most successful policies.



Reach Jim Turner at jturner@sunshinestatenews.com or at (772) 215-9889.

Comments (3)

Dave Francis
5:56PM MAY 23RD 2012
HOW MANY DOLLARS IS YOUR STATE CONTRIBUTING TO ILLEGAL ALIEN WELFARE?

Allow people with the highest credentials and qualifications, but not annual importation of millions of poorly skilled, as so called experienced contenders for jobs covertly? Senator Marco Rubio and bypartisan Senators have drafted a bill to bring more STEM workers (science, technology, engineering and mathematics) workers to the U.S. What the politicians and pressure groups have failed to inform, is that there are qualified, U.S. workers out there to fill these jobs. Within the United States Colleges and Universities are graduating many young people in the past week with degrees and no employment offers in sight. It’s time American voters turned up the heat on politicians, specifically where job visas are concerned. When thousands are seeking work, shouldn’t American labor be a priority? It certainly will be given heightened attention under the growing numbers of TEA PARTY leadership, which are taking the reins of power in the Senate and House.

California is sinking fast under the mushrooming impact of illegal immigration, as more these people pour into this state. How can other states that are hurting badly as Michigan, even believe this brainless argument from Mike Bloomberg Mayor of New York is suggesting import more immigrants, whilst the whole country is overrun with cheap labor, with the majority is soaking the welfare programs? In Michigan uncompensated costs for Illegal Aliens (2009) reported by The Federation of American Immigration Reform (FAIR) identifies at least $928,677,050. This should be a genuine concern throughout every state, excluding states controlled by Democrats with Liberal backing. In the opposite measure thousands of property owners are leaving the Golden State, now tarnished by a gross overload of foreign invaders. Many states are unable to comply with the strain of court ordered unfunded mandates, when taxpayers are hardly able to feed their offspring,

The Federal government enforce court order unfunded mandates that they take out of your taxes for people who are illegal, but do not reimburse any of the 50 states?

Arizona was one of the states that have drawn the line in the sand, when all they want to do is protect the legal population. But are forced by law to educate, treat illegal alien families for the common cold to dialysis for free. Do we personally have to feed, house and medicate every person who knocks on America’s door, when we can hardly feed our own? In Sacramento, California has been indulging these people with welfare programs, in the midst of Obama's government giving out food stamps? The Sanctuary state is under a terrible strain. In just Los Angeles Supervisor Michael D. Antonovich website published that illegal immigration costs were $550 million for public safety and nearly $500 million for healthcare, a total cost to County taxpayers that exceeds $1.6 billion dollars a year and that doesn't include the billions more in education for their children.

GO TO FAIR WEBSITE TO LEARN HOW MUCH MONEY FROM THE PUBLIC COFFERS IN YOUR STATE IS SPENT ON “FOOTHOLD” BABIES AND THEIR PARENTS? IT’S THE DOLLAR FIGURE THE DEMOCRATS DON’T WANT YOU TO BE AWARE OF?

These billions are being spent to subsidize the lives of families who sneak their children into America, as these people are aware that the majority Democratic states will support them. Governor Jerry Brown, a ‘Tax and Spend’ liberal is once again pleading for more tax revenue, to pay for everything including the largest population of illegal aliens in the country. California should put an end to the states incessant need for more money to balance their $16 Billion dollar deficit. California the embodiment of Sanctuary States is withering under the constant bombardment of foreigners with their palms outstretched and with so much on the line for people; they have nothing really to lose by fraudulently voting in the upcoming elections. Democrats don’t care and even stealthily approving of this illegal act.

ILLEGAL ALIENS, NON-CITIZENS, FELONS AND A MIXTURE OF ILLEGAL VOTERS ARE VOTING IN OUR ELECTIONS. THIS IS WHY OBAMA ADMINISTRATION DOESN’T WANT TO CHANGE THE CURRENT ELECTORAL LAWS? IT IS ESSENTIAL THAT EVERY STATE IMPLEMENTS NEW RULES, THAT EVERY PERSON HEADING TO THE VOTING STATION POSSESS A GOVERNMENTAL PICTURE ID.

California’s legislative body, Nevada of all states should be required to use E-Verify? Not voluntary but all mandated? The Legal Workforce Act will usher in a new period of restrictive practices of business owners, using labor with stolen Social Security numbers and other ID. It should be the business of ICE to enforce E-Verify, so American jobs go to U.S. workers who have that legal right. Businesses that don’t play by rules, should be heavily fined, assets seized and in some severe cases, go to jail? Those who haven’t heard of the ‘Birthright citizenship Act’ should tell their elected officials from blocking this law from reaching the house chambers. The ‘Birthright citizenship Act’ laws when enacted stop around 400.000 illegal alien mothers gaining citizenship for their smuggled fetus into the United States. That citizenship for a baby will only be apparent, when one of either parent is a U.S. citizen?

Brown stated huge cuts can be anticipated in schools through K-12, when the schools are crammed with the children of illegal aliens, then so be it; you cannot get blood from a stone anymore? No more taxes, no more money to encourage any longer illegal immigrants. It is simply rewarding the parents’ in law-breaking and just encourages more to cross borders of fly in by international flight. The federal government has failed to secure the U.S. borders and it’s become too costly to provide schooling, hospital care, low cost housing and other public services to non-citizens. So far only Arizona has had the backbone to fight back, with Alabama, Georgia, South Carolina, and Utah closing the ranks. No more taxes for Jerry Brown’s state government specifically for illegal alien support. Join a local TEA PARTY and throw out all the politicians that are giving our country away.
Frank
8:24PM MAY 23RD 2012
Yes, I want to be even MUCH tougher lon immigration - let's kick out ALL "Foothold Babies" that can't prove all their ancestors were all legally born here for at least the last 20 generations.

Oh, but I guess that means Dave Francis will ALSO have to leave.

In my world, you're an illegal alien, non-citizen, and occupying my land without my permission. You need to leave NOW.
Frank
8:22PM MAY 23RD 2012
Yes, I want to be even MUCH tougher lon immigration - let's kick out ALL "Foothold Babies" that can't prove all their ancestors were all legally born here for at least the last 20 generations.

Oh, but I guess that means Dave Francis will ALSO have to leave.

In my world, you're an illegal alien, non-citizen, and occupying my land without my permission. You need to leave NOW.

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