Bill Overview
Title: Startup Act
Description: This bill provides conditional visas to certain immigrants with advanced educational credentials. It also establishes a grant program to promote innovation and imposes requirements on certain rulemaking activities. The Department of Homeland Security (DHS) may provide conditional permanent resident status to up to 50,000 aliens with advanced science, technology, engineering, or math (STEM) degrees. Such aliens may remain in the country for up to one year after the expiration of a student visa to find employment, or indefinitely if already engaged in a STEM field. DHS may issue conditional immigrant visas for up to 75,000 qualified alien entrepreneurs. The bill imposes various requirements on such entrepreneurs, such as creating a number of full-time jobs for a period of time, after which the alien shall receive permanent resident status. The bill increases the per-country cap on family-based immigrant visas from 7% of the total number of such visas available that year to 15%, and eliminates the 7% cap for employment-based immigrant visas. It also removes an offset that reduced the number of visas for individuals from China. The bill establishes a grant program to support the commercialization of federally-funded research. It also requires the Small Business Administration to award grants regionally to interconnected businesses within an industry sector. This bill requires federal agencies, before proposing a rule that may have a significant economic effect, to publish an analysis of the rule, including the problem the rule intends to address and a cost-benefit analysis.
Sponsors: Sen. Moran, Jerry [R-KS]
Target Audience
Population: immigrants with advanced STEM degrees and qualified alien entrepreneurs
Estimated Size: 75000
- The bill allows for conditional visas for up to 50,000 immigrants with advanced STEM degrees.
- It also provides for conditional immigrant visas for up to 75,000 qualified alien entrepreneurs.
- The increase in the per-country cap on family-based immigrant visas from 7% to 15% and the elimination of the 7% cap for employment-based visas suggest more immigrant families could benefit.
- The elimination of the offset on visas for China indicates that individuals from China may have increased access to visas.
- The establishment of a grant program for the commercialization of federally-funded research will impact researchers and startups involved in innovation.
- The requirement for federal rulemaking to include analysis and a cost-benefit analysis affects companies and individuals staying updated on regulations.
Reasoning
- The policy primarily targets international students and entrepreneurs within the STEM fields and startups. These are the primary beneficiaries who might see direct improvements in their capacity to reside and work in the United States, thus positively impacting their wellbeing scores.
- Given the limitations of the budget, the beneficiaries will be a select group from the target population of immigrants. Others like current US citizens might not experience direct effects from the visa provisions but could be affected by the startup grants supporting innovation and commercialization.
- The increase in the availability of visas, particularly in high-demand categories like family-based and employment-based immigrants, suggests an improvement in the immigration process, potentially affecting immigrants from countries with historically limited visa availability, such as India or China.
- The beneficiaries of the innovation grant programs are expected to be connected to universities and research sectors aimed at commercialization, potentially boosting regional economic development.
- For individuals interested in regulation, the rulemaking procedure requirements could influence how businesses adapt to new policies, effectively requiring individuals in administrative roles to stay updated on regulatory changes.
Simulated Interviews
Research Scientist (Boston, MA)
Age: 34 | Gender: male
Wellbeing Before Policy: 7
Duration of Impact: 5.0 years
Commonness: 10/20
Statement of Opinion:
- I believe this policy will allow me to stay in the U.S. and continue my research.
- The visa options provide much needed security for myself and my family.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 8 | 7 |
| Year 2 | 8 | 6 |
| Year 3 | 9 | 5 |
| Year 5 | 9 | 5 |
| Year 10 | 8 | 4 |
| Year 20 | 7 | 3 |
Tech Startup Founder (Seattle, WA)
Age: 28 | Gender: female
Wellbeing Before Policy: 6
Duration of Impact: 10.0 years
Commonness: 8/20
Statement of Opinion:
- The prospect of a visa connected to entrepreneurship is excellent for people like me who are invested in building businesses here.
- It eases a lot of stress related to visa expiration.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 7 | 6 |
| Year 2 | 8 | 5 |
| Year 3 | 9 | 5 |
| Year 5 | 10 | 4 |
| Year 10 | 9 | 3 |
| Year 20 | 8 | 3 |
Venture Capitalist (San Francisco, CA)
Age: 42 | Gender: female
Wellbeing Before Policy: 8
Duration of Impact: 10.0 years
Commonness: 6/20
Statement of Opinion:
- The Startup Act is promising as it can escalate innovative business activities by providing the necessary visas and grants to startups.
- Long-term, it improves the investment landscape.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 8 | 8 |
| Year 2 | 8 | 7 |
| Year 3 | 9 | 7 |
| Year 5 | 9 | 7 |
| Year 10 | 8 | 6 |
| Year 20 | 7 | 6 |
Software Engineer (Austin, TX)
Age: 30 | Gender: male
Wellbeing Before Policy: 7
Duration of Impact: 5.0 years
Commonness: 7/20
Statement of Opinion:
- The bill seems like a step in the right direction for retaining talent.
- I do wish there was a larger focus on extending benefits to current H-1B holders.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 7 | 7 |
| Year 2 | 7 | 6 |
| Year 3 | 8 | 6 |
| Year 5 | 8 | 5 |
| Year 10 | 8 | 5 |
| Year 20 | 7 | 5 |
University Professor (Chicago, IL)
Age: 50 | Gender: female
Wellbeing Before Policy: 6
Duration of Impact: 10.0 years
Commonness: 5/20
Statement of Opinion:
- I see potential increases in collaboration benefits from the commercialization grants.
- This might spur innovation in university settings.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 7 | 6 |
| Year 2 | 8 | 6 |
| Year 3 | 8 | 6 |
| Year 5 | 8 | 6 |
| Year 10 | 8 | 5 |
| Year 20 | 7 | 5 |
Regulatory Affairs Specialist (New York, NY)
Age: 38 | Gender: male
Wellbeing Before Policy: 6
Duration of Impact: 3.0 years
Commonness: 6/20
Statement of Opinion:
- The required cost-benefit analyses for rules could lead to more transparency.
- However, it might also slow down necessary regulatory updates.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 6 | 6 |
| Year 2 | 6 | 6 |
| Year 3 | 6 | 6 |
| Year 5 | 5 | 5 |
| Year 10 | 5 | 5 |
| Year 20 | 5 | 5 |
Graduate Student (Los Angeles, CA)
Age: 25 | Gender: female
Wellbeing Before Policy: 5
Duration of Impact: 5.0 years
Commonness: 9/20
Statement of Opinion:
- The additional time allowed post-graduation relieves some of my concerns about finding suitable employment here.
- It's an opportunity for me to apply my education.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 7 | 5 |
| Year 2 | 8 | 5 |
| Year 3 | 8 | 4 |
| Year 5 | 7 | 3 |
| Year 10 | 6 | 3 |
| Year 20 | 5 | 3 |
Small Business Owner (Houston, TX)
Age: 45 | Gender: male
Wellbeing Before Policy: 7
Duration of Impact: 0.0 years
Commonness: 12/20
Statement of Opinion:
- While this policy mostly targets high-tech sectors, community businesses might eventually see indirect benefits.
- However, little immediate impact for local businesses yet.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 7 | 7 |
| Year 2 | 7 | 7 |
| Year 3 | 7 | 7 |
| Year 5 | 7 | 7 |
| Year 10 | 7 | 6 |
| Year 20 | 7 | 6 |
Retired Engineer (Phoenix, AZ)
Age: 60 | Gender: female
Wellbeing Before Policy: 7
Duration of Impact: 5.0 years
Commonness: 10/20
Statement of Opinion:
- The grants could foster a new wave of innovations, which is exciting to observe from an advisory capacity.
- I'm keen to see how the commercialization aspect develops.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 7 | 7 |
| Year 2 | 7 | 7 |
| Year 3 | 7 | 7 |
| Year 5 | 7 | 6 |
| Year 10 | 7 | 6 |
| Year 20 | 6 | 6 |
Immigration Lawyer (San Jose, CA)
Age: 37 | Gender: other
Wellbeing Before Policy: 8
Duration of Impact: 10.0 years
Commonness: 8/20
Statement of Opinion:
- The policy provides some relief for STEM graduates but doesn't address broader immigration system reforms.
- I expect an increase in clients seeking advice on these new pathways.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 9 | 8 |
| Year 2 | 9 | 8 |
| Year 3 | 9 | 8 |
| Year 5 | 9 | 7 |
| Year 10 | 8 | 7 |
| Year 20 | 8 | 7 |
Cost Estimates
Year 1: $500000000 (Low: $450000000, High: $550000000)
Year 2: $510000000 (Low: $460000000, High: $560000000)
Year 3: $520200000 (Low: $468000000, High: $572400000)
Year 5: $550000000 (Low: $495000000, High: $605000000)
Year 10: $600000000 (Low: $540000000, High: $660000000)
Year 100: $1500000000 (Low: $1350000000, High: $1650000000)
Key Considerations
- DHS will need to manage and streamline visa processing to avoid bottlenecks.
- Ensuring that grants effectively lead to commercialization and economic growth is critical for their success.
- Balancing regional grants to ensure equitable economic development across different areas will be important.
- Monitoring compliance with the new rulemaking analysis requirements will require additional oversight.