Innovation and Entrepreneurship
Adopted and implemented correctly, regulatory oversight can boost competition and make markets more effective for everyday people. Far too often, regulations impose obstacles to new businesses, running the risk of stifling growth and limiting entrepreneurial opportunities. In many cases, regulatory oversight protects middle class Americans but still needs fine-tuning to operate more effectively.
Small businesses and startups are the engines that drive our economy and the entrepreneurs who start them help spur the growth that makes everyone more prosperous. More new businesses mean new ideas and more opportunities for consumers to purchase the goods and services they need. A recent study by the Ewing Marion Kauffman Foundation found that companies less than one year old have created on average 1.5 million jobs a year over the last three decades and companies less than five years old created all of the net new jobs. The ability of an entrepreneur with a good idea to raise capital and start a business is critical to expanding economic growth through sustaining and increasing the number of jobs new businesses create.
More on Innovation and Entrepreneurship
Today, New Democrat Coalition Chair Jim Himes (CT-04) condemned the Trump administration’s decision to end the Deferred Action for Childhood Arrivals (DACA) program.
Washington, DC – This week, 48 Members of the New Democrat Coalition sent a letter to President Trump calling for a robust commitment to apprenticeship programs. The letter, led by Reps. Cheri Bustos (IL-17), Terri Sewell (AL-07), Ann McLane Kuster (NH-02), and Donald Norcross (NJ-01), outlines the importance of apprenticeships and urges the administration to maintain strong levels of funding for apprenticeship initiatives across the country.
Yesterday New Democrat Coalition Vice-Chair Rep. Suzan DelBene (WA-01) introduced bicameral legislation with Senator Mark Warner (D-VA) to test and evaluate innovative portable benefit designs for the growing independent workforce. New Democrat Coalition Chair Jim Himes (CT-04) and New Democrat Coalition Future of Work Task Force Co-Chairs Seth Moulton (MA-06), and Jared Polis (CO-02) also signed onto the legislation.
Co-Chairs: Representative Jared Polis, Bill Foster, and Seth Moulton
The Future of Work Task Force will investigate trends in innovation, the workforce, and the economy that are changing the ways Americans work today and in the future.
Today, Chair Emeritus Rep. Ron Kind (WI-03) introduced the Investing in Opportunity Act, which will boost economic growth in communities that have been left behind by incentivizing more private sector investment. The New Democrat Coalition is committed to growing the economy and increasing opportunities for all Americans. New Democrats support solutions to boost private sector investment to help communities across the country grow and thrive so that all Americans feel they are getting a fair shot at economic opportunities.
Rep. Suzan DelBene (WA-01), a biopharma executive-turned-lawmaker, pushes for more federal research funds. Recently named to the House Ways and Means Committee, DelBene said her priorities include the repeal of taxes on medical devices, as well as a reduction in taxes on small businesses. She also plans to fight against attempts to repeal of the Affordable Care Act and oppose efforts to privatize Medicare. DelBene has also been a leading advocate of increased federal funding for the National Institutes of Health.
Today, with a large majority of New Dem Members’ support, the House passed Helping Angels Lead Our Startups (HALOS) Act introduced by New Dem Rep. Krysten Sinema (AZ-09) and cosponsored by New Dem Reps. John Delaney (MD-06), Scott Peters (CA-52), Jared Polis (CO-02), and Brad Schneider (IL-10).
Today New Democrats voted against the Regulations from the Executive in Need of Scrutiny (REINS) Act. The REINS Act undermines the power of agencies set up to enforce governmental regulations by requiring Congressional approval of all major rules. Instead of improving America’s regulatory environment, the bill will paralyze executive branch rule-making leading to inefficiency in government.
Washington, D.C. – Representatives Jared Polis (D-CO), Joaquin Castro (D-TX), and Joe Garcia (D-FL) were joined by dozens of their colleagues from across the House Democratic Caucus in sending a letter to President Obama today urging him to address the problems faced by American businesses as he considers executive action to help immigrant families and ensure our borders remain secure. The three representatives are Co-Chairs of the New Democrat Coalition’s Immigration Taskforce and leaders within the House Democratic Caucus on the push for comprehensive immigration reform.
Washington, D.C. – The leaders of the 53-member pro-growth New Democrat Coalition issued the following statement following President Obama’s annual State of the Union Address last night: