US Policy Towards Entrepreneurship and Innovation
Information on Bills Enacted by the U.S. Congress
In the United States, all bills originating in the House of Representatives begin with "H.R." and all bills originating from the Senate begin with an "S."
Joint resolutions also have the same effect as bills, and are titled as "H. J. Res." or "S. J. Res." depending on whether they originated in the House or Senate, respectively. This means that two different bills can have the same number. In the United States Congress, a joint resolution is a legislative measure that requires approval by the Senate and the House and is presented to the President for his approval or disapproval. However, joint resolutions used to propose amendments to the United States Constitution do not require the approval of the President. Generally, there is no legal difference between a joint resolution and a bill. Both must be passed, in exactly the same form, by both chambers of Congress, and then must — with one exception — be presented to the President and signed by him/her (or, re-passed in override of a presidential veto; or, remain unsigned for ten days while Congress is in session) to become a law. Laws enacted by virtue of a joint resolution are not distinguished from laws enacted by a bill, except that they are designated as resolutions as opposed to acts.
Policy Landscape
The Senate Committee on Small Business and Entrepreneurship
Most of the bills reported/introduced by the U.S. Congress pertaining to innovation and entrepreneurship are reported on by the Senate Committee on Small Business and Entrepreneurship. The U.S. Senate Committee on Small Business and Entrepreneurship is a standing committee of the United States Senate. The committee has jurisdiction over the Small Business Administration and is also charged with researching and investigating all problems of American small business enterprises. The current Chairman of the Committee is U.S. Senator David Vitter. Other information on the Committee on Small Business and Entrepreneurship, including Committee members and recent pieces of legislation, can be found on their website: http://www.sbc.senate.gov/public/index.cfm?p=Home.
Current US Innovation Policy
- Innovation Promotion Act
The "Innovation Promotion Act of 2015" was released as a discussion draft on July 31, 2015. The act promotes a reduction of taxes to 10% for income from intellectual property. It also proposes qualifying tax distributions of qualifying intellectual property from a controlled foreign corporation to the US parent company. This act is indicative of the United States' effort to attract and foster more innovation and research.
Feedback on the Innovation Promotion Act
Current US Entrepreneurship Policy
Acts Reported on by the Senate Committee on Small Business and Entrepreneurship
Acts Reported on by the Senate Committee on Small Business and Entrepreneurship
