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.

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Sens. Charles SchumerCharles (Chuck) Ellis SchumerDemocrats' education agenda would jeopardize state-level success Overnight Health Care — Presented by the Association of American Medical Colleges — Trump officials move to expand non-ObamaCare health plans | 'Zero tolerance' policy stirs fears in health community | New ObamaCare repeal plan Selling government assets would be a responsible move in infrastructure deal MORE (D-N.Y.), Marco RubioMarco Antonio RubioSenate moving ahead with border bill, despite Trump Hillicon Valley: New FTC chief eyes shake up of tech regulation | Lawmakers target Google, Huawei partnership | Microsoft employees voice anger over ICE contract Lawmakers urge Google to drop partnership with Chinese phone maker Huawei MORE (R-Fla.), Roy BluntRoy Dean BluntGOP senators introduce bill to prevent family separations at border Ernst, Fischer to square off for leadership post Facebook gives 500 pages of answers to lawmakers' data privacy questions MORE (R-Mo.), Debbie StabenowDeborah (Debbie) Ann StabenowNew Kid Rock film explores political divide Congress must work with, not against, tribal communities in crafting Farm Bill Senate Dems to Mnuchin: Don't index capital gains to inflation MORE (D-Mich.) and Jerry MoranGerald (Jerry) MoranFormer USA Gymnastics CEO pleads Fifth at hearing GOP, Trump at odds on pardon power Lawmakers request meeting with Amtrak CEO over funding for route MORE (R-Kan.) are co-sponsors of the bill. A companion measure will be introduced in House next week by Reps. Jim GerlachJames (Jim) Gerlach2018 midterms: The blue wave or a red dawn? Pa. GOP 'disappointed' by rep retiring after filing deadline Pennsylvania Republican Costello won't seek reelection MORE (R-Pa.) and Ron KindRonald (Ron) James KindCongress must defend role in international trade It's time for Congress to step in and stop Trump's trade abuses Lobbying world 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.