August 5, 2020

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As Pandemic Derails Economy, Phillips Proposes Tax Relief For Startups To Spur Innovation

By
Congressman Dean Phillips
Congressman Dean Phillips

TechNet President and CEO Linda Moore
"TechNet commends Reps. Phillips and Walorski for introducing the IGNITE American Innovation Act to provide relief to startups in the wake of COVID-19. This legislation will help startups access needed funds so they can continue to develop solutions for our country and create products that serve our nation during this unprecedented time. As it stands, startups have struggled due to being unintentionally shut out of federal economic relief and are lacking a crucial lifeline to weather the economic storm. Startups are rapid job creators and community builders that deserve the ability to use all relevant forms of capital to stay in business and continue working. This bill will empower these engines of growth to innovate and create cutting-edge products that can benefit us all."

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