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H.R. 578, The Access to Capital for Entrepreneurs Act of 2007 (3 comments ↓)
- This item is from the 110th Congress (2007-2008) and is no longer current. Comments, voting, and wiki editing have been disabled, and the cost/savings estimate has been frozen.
H.R. 578 would amend the Internal Revenue Code of 1986 to allow a credit against income tax for qualified equity investments in certain small businesses.
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Visitor Comments
C Smith
April 6, 2007, 12:48pm (report abuse)This Bill could provide greater economic growth to our country than almost any measure Congress could take. Small growing businesses rely on angel investment to grow from startup to thriving enterprises. Tens of thousands of small businesses have great potential, but are too small to attract venture capital. This Bill fills the gap. This is a pro-growth, pro-jobs bill. Hence the bi-partisan support.
Scott Yates
April 23, 2007, 7:21am (report abuse)Worth the risk. I wrote about this bill on www.CreditCardVC.com. There is a risk of too much funding of bad deals, but it's worth the risk, I think.
Jonathan Cohen
July 22, 2007, 6:02am (report abuse)We have a similar program in Maryland specifically for biotech companies and it has been enourmously successful. The key to preventing abuse is to carefully limit qualified companies to those undertaking high-risk R&D. Perhaps this should be linked to the SBIR progrma.