It might be election season, but whatevs, why not go ahead and flirt with a third rail? The Wall Street Journal reports that several senators are introducing legislation that would create a visa strictly for entrepreneurs, as well as making it easier for those with post-grad STEM degrees to stay in the U.S. Hey, it is going to take some time to get CornellNYC Tech up and running, even if Google is loaning them space. And if the developer perk wars are any indication, every engineer helps.
Of course, you can’t just talk about immigration in an election year, oh no, so there are a few, uh, tax-related provisions:
The bill would also create a targeted tax credit to encourage start up firms to invest in research and development. It would allow investors who cash in investments made in start up businesses to avoid capital gains tax as long as they had held the investment for at least five years. This last provision was included in a small business bill signed into law last year.
Oh, and according to a “senior Senate Democratic leadership aide” they haven’t had any discussions with leadership about the bill, so yeah, we’re not putting any money on this passing.