This week, in his State of the Union address, President Obama outlined plans to build a stronger America, including actions to help entrepreneurs and small business owners expand and create new jobs. This vision builds on the continuing work of the White House Startup America initiative, an ongoing effort to inspire and accelerate high-growth entrepreneurship throughout the United States.
Just last week, entrepreneurs from across the country gathered at the White House to celebrate Startup America’s success thus far—and its two-year anniversary—by presenting ambitious plans for growing vibrant startup communities in Arizona, Colorado, DC, Indiana, Iowa, Maryland, North Carolina, Nebraska, Tennessee, Texas and Virginia.
After achieving several early milestones in its first year, Startup America’s momentum has only continued to grow. Here’s how:
Calling on Congress: In February 2012, the President signed a bill fulfilling his call to expand Self-Employment Assistance, a proven way to let states empower unemployed workers to start their own businesses. Then, in April 2012, the President signed into law the Jumpstart Our Business Startups (JOBS) Act, allowing small businesses and startups to more efficiently raise capital from investors, including through regulated crowdfunding platforms that the SEC is expected to approve this year. And, just last month, building on the 18 small business tax cuts he has already signed into law, the President extended through 2013 a crucial tax cut for investments in small businesses by signing the American Taxpayer Relief Act.
This year, President Obama will continue to call on Congress to build an immigration system for the 21st century that meets our economic and security needs. This includes common-sense reforms to cut waiting periods and attract the highly-skilled entrepreneurs and innovators who will help create jobs and grow our economy.