U.S. politicians are fond of talking about “opportunity” and their desire to support launching and scaling businesses. Unfortunately sometimes talking is as far they ever get.
Capitol Hill lawmakers started slowly in 2019 with yet another reintroduction of the Startup Act, doomed by its provision for a visa for international entrepreneurs. But in the second half of the year, there has been a flurry of bills relevant to company founders, including two that make it easier to leave your job to start a company. None has become law, and their progress in an election year is uncertain.
Inc. has compiled a list with descriptions of the most significant bills for entrepreneurs introduced—or poised to be introduced—in 2019:
- An investigation into startup decline—The Enhancing Entrepreneurship for the 21st Century Act would direct the secretary of commerce to study the four-decade decline in company formation: its causes, economic implications, and potential solutions. The results should drive entrepreneurship policymaking for years to come. This bill was Introduced in the Senate in September and the House in October.
- A kibosh on non-competes—The Workforce Mobility Act would limit the enforcement of these agreements to situations like the sale of a business or dissolution of a partnership. This legislation was introduced in the Senate in October.
- More aid for R&D—The R&D Tax Credit Expansion Act would double the credit cap from $250,000 to $500,000, expand it to cover all payroll taxes paid by startups, and increase the eligibility cap to $10 million in sales. This legislation was introduced in the Senate in July.
Read the story from Inc. for the full list of entrepreneur-helping legislation.
