New Legislation Will Accelerate American Innovation and Competitiveness

April 19, 2022

Contact: Sabrina Fang
Phone: 703-283-2091

WASHINGTON, DC –  The National Venture Capital Association (NVCA), TechNet, and the Center for American Entrepreneurship (CAE) are excited to see the introduction of several tax policy measures that will increase investment in frontier technologies and new tools to better prepare the country for future pandemics and other public health crises.

“By making long-term investment in innovation more attractive, this package of proposals will pay enormous dividends for our economy and improve America’s long-term competitiveness. We thank Representatives Brady, Buchanan, Kelly, and Wenstrup for their leadership and look forward to continuing to work with policymakers to pass these solutions into law.”

NVCA, TechNet, and CAE strongly support these new proposals that are written to support the unique business model of patient long-term investment into research and growth activities commonly found in the American startup ecosystem. Specifically, the American Innovation Act will improve our long-term competitiveness by making capital-intensive investment into critical technologies more attractive. Other bills build on the success of the research and development tax credit to provide liquidity and encourage investment in startups focused on solutions to pandemics and public health crises.


About National Venture Capital Association
The National Venture Capital Association (NVCA) empowers the next generation of American companies that will fuel the economy of tomorrow. As the voice of the U.S. venture capital and startup community, NVCA advocates for public policy that supports the American entrepreneurial ecosystem. Serving the venture community as the preeminent trade association, NVCA arms the venture community for success, serving as the leading resource for venture capital data, practical education, peer-led initiatives, and networking.

About TechNet
TechNet is the national, bipartisan network of technology CEOs and senior executives that promotes the growth of the innovation economy by advocating a targeted policy agenda at the federal and 50-state level. TechNet’s diverse membership includes dynamic American businesses ranging from startups to the most iconic companies on the planet and represents over three million employees and countless customers in the fields of information technology, e-commerce, the sharing and gig economies, advanced energy, cybersecurity, venture capital, and finance. TechNet has offices in Albany, Austin, Boston, Chicago, Olympia, Sacramento, San Francisco, Silicon Valley, Tallahassee, and Washington, D.C.

About Center for American Entrepreneurship
The Center for American Entrepreneurship (CAE) is a nonpartisan research, policy, and advocacy organization whose mission is to engage and educate policymakers in Washington, and at state and local levels across the nation, regarding the critical importance of entrepreneurs and startups to innovation, economic growth, and job creation – and to pursue a comprehensive policy agenda intended to significantly enhance policy circumstances for new business formation, survival, and growth.