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Bipartisan Bill Bolsters Foreign Tech Entrepeneurs

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Virginia Sen. Mark Warner was part of a bi-partisan group looking to make it easier for foreign entrepreneurs to start businesses in the U.S.
Matt Laslo
Virginia Sen. Mark Warner was part of a bi-partisan group looking to make it easier for foreign entrepreneurs to start businesses in the U.S.

Virginia Democratic Sen. Mark Warner teamed up with some of his Republican colleagues in introducing legislation that could help out new businesses in the region.

In an election year, where gridlock on Capitol Hill is the expected at every turn, two Democratic and two Republican senators say their new bill, called the Start-up Act 2.0, is more about common sense than politics. It would create a new kind of visa for highly skilled foreigners coming out of grad schools with degrees in science and technology fields, as well as those who want to start companies in the U.S., which Senator Warner says would go a long way in the National Capital Region.

"I can tell you in my home state of Virginia, we've got a robust technology community," said Warner. "Literally a third of the tech firms in Northern Virginia are, at least one of the founders are, first generation American."

The Start-up Act, which is also supported by Chris Coons (D-Del.), Jerry Moran (R-Kan.) and Marco Rubio (R-Fla.), would allow unlimited visas for highly-skilled workers, eliminating a country by country cap that's currently on the books. It also offers a new tax break to startups, so they can invest more money in research and hiring.

The legislation further calls for all government agencies to study any regulations they have costing $100 million or more.

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