Sens. Tim Scott, R-S.C., and Amy Klobuchar, D-Minn., have launched the Senate Entrepreneurship Caucus to help address issues facing entrepreneurs and serve as a forum for collaboration.
According to the Census Bureau, startup rates in the U.S. have fallen, from a total of 558,000 companies formed in 2006 to 414,000 businesses formed in 2015. The caucus will work to diagnose the causes of the startup slowdown and create a strategy to counteract it. The caucus will also serve as a clearinghouse for proposals from interested groups who wish to share their ideas with policymakers.
“As a former small business owner, I know the tough battles many face when trying to go from the drawing board to the boardroom,” Scott said in a news release. “I look forward to working with my colleagues on the Senate Entrepreneurship Caucus to ensure that we create a financial and economic environment where every idea can come to life.”
The caucus will be led by co-chairs Scott and Klobuchar, with membership including Sens. Roy Blunt, R-Mo.; Chris Coons, D-Del.; Joni Ernst, R-Iowa; Lindsey Graham, R-S.C.; Maggie Hassan, D-N.H.; John Hoeven, R-N.D.; James Inhofe, R-Okla.; Doug Jones, D-Ala.; Jerry Moran, R-Kan.; Gary Peters, D-Mich.; David Perdue, R-Ga.; and Kyrsten Sinema, D-Ariz.
“New businesses are the engines that drive economic growth, but fewer and fewer startups are launched every year,” Klobuchar said in the release. “Establishing the bipartisan Senate Entrepreneurship Caucus will allow Congress to work with entrepreneurs across the country to stimulate innovation, create jobs and move our country forward.”