Erik Paulsen: “I speak in favor of H.R. 6756, the American Innovation Act, which will spur innovation by helping startups survive the…”

“I speak in favor of H.R. 6756, the American Innovation Act, which will spur innovation by helping startups survive the first few years of their existence and access the capital they need to grow and expand. This bill also includes a key provision that I authored to help entrepreneurs not only survive, but thrive. Entrepreneurs and startups are a key source of innovation and job creation, particularly in Minnesota. But the tax code today puts them at a disadvantage. It makes it harder for them to access new capital, and it disadvantages them as they struggle through the hardest part of their existence, which is the very first few years of profitability. This bill changes that. It brings tax regulations for governing startups now into the 21st century so that entrepreneurs and capital intensive sectors, like medical devices, can make the necessary investments in research, development, and manufacturing to grow and hire more people. Ultimately, this means more jobs and more flexibility for Minnesota entrepreneurs to not just come up with the next big idea, but to actually make it a reality. I hope my colleagues will join me in supporting this legislation. Support the Family Savings Act”