In his State of the Union Address, President Obama laid out a plan for winning the future by out-innovating, out-educating, and out-building the rest of the world. This week, the White House will hold a number of events to focus on innovation, and how the nation can create the jobs and industries of the future by investing in the creativity and imagination of the American people.
On Jan. 31, the White House launched “Startup America,” a national campaign to help America achieve these goals by promoting high-growth entrepreneurship across the country with new initiatives to help encourage private sector investment in job-creating startups and small firms, accelerate research, and address barriers to success for entrepreneurs and small businesses.
“Entrepreneurs embody the promise of America: the belief that if you have a good idea and are willing to work hard and see it through, you can succeed in this country. And in fulfilling this promise, entrepreneurs also play a critical role in expanding our economy and creating jobs,” said President Barack Obama in a prepared statement. “That’s why we’re launching Startup America, a national campaign to help win the future by knocking down barriers in the path of men and women in every corner of this country hoping to take a chance, follow a dream, and start a business.”
Obama’s new budget will propose making permanent the elimination of capital gains taxes on key investments in small businesses, which was passed as a temporary provision in 2010 as part of the Small Business Jobs Act the president signed in September. The budget will also propose expanding the New Markets Tax Credit to encourage private sector investment in startups and small businesses operating in lower-income communities.
For a full list of the initiative’s goals, visit whitehouse.gov.