ISSUES & ADVOCACY
Start-up Jobs and Innovation Act
Senators Pat Toomey (R-PA), Robert Menendez (D-NJ), Pat Roberts (R-KS), and Tom Carper (D-DE) have introduced S. 341, the Start-up Jobs and Innovation Act, designed to spur capital formation for growing R&D businesses. Please click on the links below for more information on the bill.
Reps. Patrick Meehan (R-PA), Richard Neal (D-MA), Mike Kelly (R-PA), Ron Kind (D-WI), and John Larson (D-CT) have introduced H.R. 2179, the Partnerships to Advance Revolutionary Technology and Novel Entrepreneurial Research (PARTNER) Act, which would support early-stage research by incentivizing investment in R&D-focused small businesses. Please click on the links below for more information on the bill.
Senators Tom Carper (D-DE) and Pat Toomey (R-PA) have introduced S. 537, the Competitiveness and Opportunity by Modernizing and Permanently Extending the Tax Credit for Experimentation (COMPETE) Act, which would strengthen and make permanent the R&D tax credit as well as allow pre-revenue companies to partner with their investors via R&D Partnership Structures. Please click on the links below for more information on the bill.
Coalition Proposals for Promoting Innovation Through Tax Reform
CSBI supports a U.S. tax code that recognizes innovation as a crucial part of the 21st century American economy. Targeted reforms to the passive activity loss rules under Section 469, treatment of net operating losses under Section 382, and small business capital gains tax rates under Section 1202 will spur capital formation for small R&D-intensive businesses and support vital pre-revenue innovation. Click here to read the Coalition’s legislative proposals.
Coalition Letter to Senators Menendez and Toomey - November 6, 2013
In this letter, the Coalition commends Senators Menendez and Toomey for introducing the Start-up Jobs and Innovation Act, which will ensure young, emerging, research-centric businesses are able to raise enough capital to unlock the cutting-edge technologies key to the nation’s economic health and prosperity. To read the Coalition’s letter, click here.
STUDY: Economic Impact of Tax Proposals Affecting Research-Intensive Start-Up Businesses and Qualified Small Business Companies - July 30, 2013
A study, conducted by Ernst & Young, analyzes the economic impact of three legislative proposals designed to help small R&D-intensive start-up companies and other small businesses better utilize existing tax provisions, and incentivize investment in small business innovation.
If enacted together, the three proposals would increase total investment by $20.6 billion and result in an estimated 623,000 jobs when indirect and induced economic effects are included. Click here to view the full study.
Coalition Response to Request for Proposals from Chairman Baucus and Ranking Member Hatch – July 22, 2013
Senate Finance Committee Chairman Max Baucus and Ranking Member Orrin Hatch have asked the Senate to submit tax provisions that should be included in a reformed, “clean slate” tax code. Their goal is to lower the corporate tax rate by eliminating certain tax expenditures. CSBI submitted this letter stressing the importance of supporting pre-revenue innovation and advocating for targeted reforms to Section 469 PAL rules, Section 382 NOL restrictions, and Section 1202 capital gains rates. To read the Coalition’s letter, please click here.
CSBI Testimony for Small Business and Pass-Through Entity Hearing – May 15, 2013
On May 15, the Select Revenue Measures Subcommittee of the House Ways & Means Committee held a hearing on the small business tax reform discussion draft released by Chairman Camp. The Coalition submitted written testimony for this hearing highlighting its legislative priorities and urging Congress to support investment in emerging innovators. To read the Coalition’s testimony, please click here.
Senate Finance Committee Tax Reform Options Report – April 11, 2013
The staff of the Senate Finance Committee issued this report compiling tax reform options presented to the Committee. The Coalition’s R&D Partnership Structures proposal is cited on page 7 in item 6a. A version of the Coalition’s Section 1202 proposal is included on page 7 in item 5b. Click here to access the Finance Committee report.
Coalition Letter to Ways & Means Manufacturing Working Group – March 19, 2013
The House Committee on Ways & Means formed 11 working groups to discuss options for tax reform. CSBI submitted comment to the Manufacturing Working Group on the importance of pre-revenue innovation in the tax code. To read the Coalition’s letter, click here.
Coalition Letter to Budget Committee Leadership – March 7, 2013
In this letter, the Coalition urges the House and Senate Budget Committees to consider the importance of promoting pre-revenue small business innovation as they consider laying the groundwork for tax reform. To read the Coalition’s letter, click here.