The legislation bears the names of two Democrats and two Republicans. Sen. Mark Warner, D-Va., and Sen. Chris Coons, D-Del., have joined Sen. Marco Rubio, R-Fla., and Sen. Jerry Moran, R-Kan., in sponsoring the Startup Act 2.0, which would promote entrepreneurs.

In their introductory statement, the four senators cite research showing that "companies less than five years old have created nearly all net new U.S. jobs for almost three decades." The new bill complements the JOBS Act, a bipartisan bill Congress passed in March. The JOBS Act enjoyed enthusiastic support from President Barack Obama and House Majority Leader Eric Cantor.

The Startup Act 2.0 focuses on taxes, regulation and immigration. The JOBS Act stressed access to capital. The two approaches go hand in hand. Startup recognizes the contributions entrepreneurs make to economic growth.

Regarding immigration: U.S. universities remain the preferred institutions of higher education for students from all nations. American graduate schools in particular attract scholars from abroad. Startup would authorize an Entrepreneur's Visa for legal immigrants; it also would reward foreign students who earn a master's or a doctorate in science, technology, engineering or mathematics by allowing them to stay in the U.S. to open businesses, thereby creating jobs.

This is worthwhile legislation. The Times-Dispatch salutes the bipartisan quartet and applauds Warner's participation.