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May 22nd, 2012
01:08 PM ET

Senators propose new bill for immigrant entrepreneurs

A new bipartisan bill, Startup Act 2.0, aims to keep global talent in America by providing benefits to immigrants who launch startups.

On Starting Point this morning, Senators Mark Wagner (D-VA) and Jerry Moran (R-KS) describe their bill, insisting that they don’t think an election year is an excuse to not get anything done.

Startup Act 2.0, essentially the sequel to the Jobs Act, offers new visa classes for immigrants, as well as incentives to invest in startups and tax credits for new businesses. It will also use existing federal funds to help universities bring their research to the market faster.

To be eligible, an individual must have completed graduate-level work in science, technology, engineering or math. Within a year, he or she must launch a business that has two full-time employees who are not family members, and their company must raise capital of at least $100,000.

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