Bipartisan group of senators re-introduce start-up tax credit bill

Under the bill, a start-up must be less than five years old and have less than $5 million in revenue to qualify for the tax credit.

ADVERTISEMENT
Sens. Charles SchumerCharles (Chuck) Ellis SchumerOvernight Health Care: Schumer calls for tying ObamaCare fix to children's health insurance | Puerto Rico's water woes worsen | Dems plead for nursing home residents' right to sue Crying on TV doesn't qualify Kimmel to set nation's gun agenda Trump knocks ‘fake’ news coverage of his trip to Puerto Rico MORE (D-N.Y.), Marco RubioMarco Antonio RubioOvernight Defense: Tillerson, Trump deny report of rift | Tillerson says he never considered resigning | Trump expresses 'total confidence' in secretary | Rubio asks Army to kick out West Point grad Rubio asks Army to kick out West Point grad with pro-communist posts GOP establishment doubts Bannon’s primary powers MORE (R-Fla.), Roy BluntRoy Dean BluntThe Hill's Whip List: Republicans try again on ObamaCare repeal Another health funding cliff puts care for millions at risk Top Senate Dem: We're going forward with understanding we can work with White House on DACA MORE (R-Mo.), Debbie StabenowDeborah (Debbie) Ann StabenowDems plan to make gun control an issue in Nevada Red-state Dems need more from Trump before tax embrace Stabenow: ‘Kid Rock might actually win the Republican primary’ MORE (D-Mich.) and Jerry MoranGerald (Jerry) MoranTIMELINE: The GOP's failed effort to repeal ObamaCare The Hill's Whip List: Republicans try again on ObamaCare repeal IT modernization measure included in Senate-approved defense policy bill MORE (R-Kan.) are co-sponsors of the bill. A companion measure will be introduced in House next week by Reps. Jim GerlachJim GerlachFormer reps: Increase support to Ukraine to deter Russia With Trump and GOP Congress, job creators can go on offense Big names free to lobby in 2016 MORE (R-Pa.) and Ron KindRon KindDemocratic rep calls on Wisconsin governor to expand Medicaid Congress should prioritize small farmers and taxpayers over Big Ag Why Trump is fighting Canada on softwood lumber and dairy MORE (D-Wis.), members of the Ways and Means Committee in the lower chamber, which has jurisdiction over tax policy.

In a statement, Coons noted that the R&D tax credit "has helped tens of thousands of successful American companies create jobs by incentivizing investment in innovation" and that the bill would help start-ups take advantage of the tax credit.

So far the bill has been endorsed by the Silicon Valley Leadership Group, the Telecommunications Industry Association, former AOL co-founder Steve Case's Revolution investment firm and the Information Technology and Innovation Foundation.