Washington D.C. - Recently, Senator Robert Menendez (D-NJ) along with other Senators proposed the Start-up Jobs and Innovation Act. The bill would , which will help spur investment in small biotech companies and other early-stage companies to help accelerate the development of treatments and cures. The Start-up Jobs and Innovation Act would address the unique obstacles faced by not-yet profitable research-intensive small businesses.
Specifically, the legislation would reform the rules on how investors can enter into partnerships with small, early-stage R&D companies. This change will make it easier for pre-revenue companies engaged in innovative research to attract the investment they need to develop new technologies and bring their products to market – spurring economic growth and job creation in the process.
A recent study conducted by Ernst & Young analyzed the economic impact of enacting the R&D Partnership Structures created by this legislation. Their study found that this proposal would increase investment in small, research-intensive companies by an estimated $10.3 billion per year and would result in 156,000 additional jobs – an extremely positive impact on our economy and job market.
Similarly, allowing longstanding investors in small business innovators to benefit from a reduced capital gains rate will also encourage vital investments and support widespread job creation. If the United States is to remain competitive on the global stage, Congress must support the pre-revenue small businesses driving America’s 21st century innovation economy.
Senator Menendenz introduced the bill with Senator Pat Toomey (R-PA) and is co sponsored by Senator Pat Roberts (R-KS) and Senator Tom Carper (D-DE).
A recent study conducted by Ernst & Young analyzed the economic impact of enacting the R&D Partnership Structures created by this legislation. Their study found that this proposal would increase investment in small, research-intensive companies by an estimated $10.3 billion per year and would result in 156,000 additional jobs – an extremely positive impact on our economy and job market.
Similarly, allowing longstanding investors in small business innovators to benefit from a reduced capital gains rate will also encourage vital investments and support widespread job creation. If the United States is to remain competitive on the global stage, Congress must support the pre-revenue small businesses driving America’s 21st century innovation economy.
Senator Menendenz introduced the bill with Senator Pat Toomey (R-PA) and is co sponsored by Senator Pat Roberts (R-KS) and Senator Tom Carper (D-DE).
