Highly skilled Indians get smooth passage to US in new immigration bill
This bill will keep top talent here in the US to build businesses that hire Americans, and drive US innovation and competitiveness," Congressman Grimm said.
"With a renewed focus on comprehensive immigration reform, it is imperative that we take commonsense steps to help the US compete and win the global competition for talented innovators and entrepreneurs," Senator Warner said.
The bill has been welcomed by the White House.
"I'm encouraged to see continued enthusiasm and momentum in Washington to support entrepreneurs," said Steve Case, Revolution LLC CEO and member of President Obama's Council on Jobs and Competitiveness.
According to the authors of the bill, research has demonstrated the positive impact of immigrants on American job creation: more than 40 per cent of all Fortune 500 companies were founded by an immigrant or the child of an immigrant.
Research shows that startups create three million jobs per year, on average.
Among other things, the bill eliminates the per-country caps for employment-based immigrant visas - which hinder US employers from recruiting the top-tier talent they need to grow.
Senator Christopher Coons said Startup Act 3.0 will help bring ideas and discoveries from the laboratory to the marketplace, help startups access the R&D Tax Credit which supports growth and job creation, and ensuring that when a foreign-born, American-educated graduate student in science, technology, engineering or math has a great idea to start a business, they do it here in