On the recordJanuary 30, 2013
it is with great pleasure that I, along with Mr. Flake of Arizona, reintroduce the Startup Visa Act. The Startup Visa Act of 2013 allows immigrant entrepreneurs and foreign graduates of U.S. universities to appeal for a two-year visa on the condition that they secure financing from a qualified U.S. investor and can demonstrate the ability to create jobs in America. If they are successful in developing their company and hiring American workers, they would be eligible for legal permanent residency and would be free to continue building their companies, creating more home-grown jobs and continuing our legacy of unmatched innovation and entrepreneurship. The United States has a proud history of providing entrepreneurs from around the world the freedom and resources to turn an idea into a successful venture. Well-known U.S. companies such as Google, Yahoo, Intel, Pfizer and eBay all began as startups that were founded by immigrants. These businesses have grown into multibillion-dollar industry leaders that provide thousands of Americans with high-paying jobs in cutting-edge fields. The number of jobs offered by startups is dropping off. While this is partly due to the economic downturn it is also because of our Nation's broken immigration system. Many of the world's best and brightest minds are finding that our current visa restrictions discourage them from launching new companies here.…
