My primary goal as your Congressman is to get the economy back on track and put in place policies that will help create jobs. I believe we must create a climate of entrepreneurship and innovation, and must pass laws that will help foster new companies and attract individuals seeking to put good ideas into action. American families and workers rely heavily on the strength of startup companies, which account for the vast majority of net new jobs in our economy.

That is why I sponsored the Startup Act, H.R. 962. This bipartisan legislation will foster job creation and innovation in America’s economy through reforms to immigration policy and the tax code.

The Startup Act allows for the issuance of up to 75,000 additional visas for immigrant entrepreneurs. As entrepreneur who receives one of these visas must register at least one new business entity that employs at least two full-time, non-family member employees, and must invest or raise at least $100,000 in capital. If the new company meets certain employment and investment thresholds, the entrepreneur is then eligible to apply for a permanent visa.

The Startup Act also creates a new visa program for up to 50,000 foreign students who earn either a master’s degree or a Ph.D in science, technology, engineering, or math (STEM) from an American institution of higher learning. Today, thousands of foreign students are earning these degrees at American universities, but are not staying in America after graduation. The Startup Act would enable these students to stay in America, and to go to work for American companies to use their education to foster the American economy.

Finally, the Startup Act also makes permanent tax incentives for investment in qualified small businesses, and creates a limited research and development tax credit for startup companies that are less than five years old and report less than $5 million in annual earnings.

Read the legislation here: