Talking Innovation and the Startup Act 2.0 with Sen. Moran
When Kansas Senator Jerry Moran sat down to address the economy, he took a unique look at the problem and came up with a unique solution. In an effort to boost both innovation and the economy, he decided to focus his efforts on small businesses. With the bipartisan support of Virginia Senator Mark Warner, Moran introduced the Startup Act as a way to increase the possibility of success for startup businesses across the nation. It addresses five main points that currently may hinder the growth of these companies, including capital formation, the tax code, regulatory environment, access to talent, and state to state competition.
When the initial introduction was successfully, the two senators went looking for other supporters. They partnered with Sen. Chris Coonz and Sen. Marco Rubio, borrowing from their recently introduced Agree Act which focused mainly on capital formation and regulatory issues, to create the revamped Startup Act 2.0. The new Act is designed to give entrepreneurs a better shot at success in the tough economy of today.
"With the high unemployment rate, there are lots of people who are looking for ways to put food on their families table, and starting your own business is certainly one of those fallback positions. If you have lost your job, going out and starting your own business is certainly a way to respond to that problem," Moran said. "In the United States, our economy has always been based on entrepreneurship… And certainly the growth of the economy is occurring on the technology side and there is a real hunger to get government out of the way."
Check out our conversation with Sen. Moran and ITI's own Robert Hoffman, where they talk more about the Startup Act 2.0 and how it promotes innovation and economic recovery.