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).