Tuesday, February 01, 2011

Obama Administration Unveils Startup America

Yesterday the White House held a press event unveiling President Obama's new Startup American program.

According to USAToday.com Startup America plans to:

  • Permanently eliminate capital gains taxes on key investments in small businesses.
  • Expand the New Markets Tax Credit to encourage private sector investment in startups and small businesses that operate in low-income communities.
  • Direct $2 billion in existing loan guarantees over five years to match private-sector investment for startups and small businesses in underserved communities.
  • Provide mentors for "clean tech" startups.
  • Train veterans who want to start businesses.
  • Allow entrepreneurs to request faster review of patents.

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