Continuing efforts to gather support for S. 193, “the Startup Innovation Credit Act of 2013,” we’re urging tech SMBs and entrepreneurs to participate in the TechVoice “Tweet Support for Startups” on October 30. All TechVoice members, as well as their member companies, will be encouraged to tweet their senators and Senate staff to ask for support and co-sponsorship of the legislation. Because the companion bill has not yet been introduced in the House, Tweet Day will concentrate on the Senate.
TechVoice is the partnership of CompTIA, the Technology Councils of North America (TECNA) and participating regional technology associations, and we’re hoping that members of all those groups participate in Tweet Day.
The Startup Innovation Credit Act of 2013 will provide support for innovative startup companies to create new jobs by allowing these startup businesses to offset their R&D tax credits against their payroll tax liability. Under existing rules, startups cannot claim the credit unless they have current federal income tax liability against which to offset the credit. However, startups rarely show net income in the early years, so the existing R&D tax credit provides no current economic benefit to these firms.
The legislation is co-sponsored by eight senators, including leads sponsors Sen. Chris Coons (D-DE) and Sen. Mike Enzi (R-WY). The overall goal of this campaign is to raise awareness of and support for S. 193 for inclusion in tax legislation later this fall. You can find a list of senators and their Twitter handles here. Tweet: @(insert your senators’ handle here) support S.193; #techstartup’s need your help to keep America innovative; http://ow.ly/pcIdp #techvoice
Join us in tweeting your senator!
