US Policy Towards Entrepreneurship and Innovation
Information on Bills Enacted by the U.S. Congress
In the United States, in both chambers, a bill is a proposed piece of legislation to be considered by the legislature. All bills originating in the House of Representatives begin with "H.R.", and all bills originating in the the Senate begin with an "S.". There is no legal discrepancy between a bill and a joint resolution; both are executed in the same manner. A joint resolution, is a legislative measure that requires approval by the Senate and the House and is forwarded on to the President for decision. Additionally, joint resolutions have the same effect as bills, and are titled as "H. J. Res." or "S. J. Res." depending on chamber of origination. Consequentially, a joint resolution and bill may have the same number in the archives although technically different pieces of legislation. A simple resolution, is a legislative form used for matters that pertain to an individual chamber of Congress; often to change the rules of the chamber, or organize a debate for a related bill. The resolution must be agreed to in the chamber of origination. Finally, laws enacted by virtue of a joint resolution are not distinguished from laws enacted by a bill, except only nominally in that they are designated as resolutions as opposed to acts.
Policy Landscape
Policy Overview
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
