Washington, DC –TechAmerica’s President & CEO Shawn Osborne reiterated TechAmerica’s support of the Startup Act 2.0, introduced today by Senators Jerry Moran (R-KS), Mark Warner (D-VA), Chris Coons (D-DE) and Marco Rubio (R-FL).

“TechAmerica has long advocated for Congress to pass an innovation agenda that helps technology startups and small businesses succeed. The JOBS Act was a good first step but the Startup Act 2.0 will deliver much needed tools to our entrepreneurs, who are the lynchpin to our nation’s technology industry and the leaders of the innovation economy into the next century.

The best way to promote innovation is to clear the way for the main agents of innovation: the entrepreneurs who create new businesses.

The Startup Act reduces barriers to new, potentially high-growth businesses including the permanent exemption from capital gains taxes for long-term investment in startups. One of the greatest challenges facing new startup companies is gaining access to enough capital to get off the ground in the first few years.  We also applaud the sponsors for investing in our nation’s high skilled workforce by granting visas to foreign entrepreneurs who commit to establishing a business here and hiring U.S. workers.

We encourage the Senate to take up the legislation as soon as possible.  The Startup Act 2.0 is smart policy which illustrates that entrepreneurship is not a Republican or Democratic idea. It’s an American idea.”