Johnson Introduces Advancing Tech Startups Act

WASHINGTON – As part of a larger effort by Energy and Commerce Committee Republicans, U.S. Rep. Bill Johnson, R-6 Ohio, introduced the Advancing Tech Startups Act.

H.R. 6940 promotes “a national strategy for encouraging more tech-focused startups and small businesses” in the U.S., Johnson said in a statement.

“The Chinese coronavirus outbreak has served as a painful lesson about the importance of creating products, supply chains, and intellectual capital here at home. We simply can’t rely on China – or anyone else. And, we don’t need to,” Johnson said. “While we must ensure our supply chains are resilient in a global economy, we must also be self-sufficient in critical areas. It’s time to fully unleash the American spirit of innovation and entrepreneurship to ensure we are.”

The act would require the Department of Commerce to lead a study on the state of innovation in the country and identify innovation by technology startups and small businesses, he said. It would also require surveys on:

• Identifying which federal agencies have jurisdiction over the creation, development and growth of tech startups, in addition to relevant interagency activities and Federal rules and regulations.
• Gauging American competitiveness internationally.
• Relevant marketplaces and supply chains that impact creation and growth of technology startups.

The legislation would also require the commerce department to report to Congress on any federal rules or regulations acting as barriers to creation, development and growth of technology startup companies, “as well as recommendations for a comprehensive plan that promotes growth and development of technology startups and mitigates risk to marketplaces and supply chains,” according to the statement.

“This legislation will identify and illustrate where innovation and technology are currently being developed in the US, and what barriers may be preventing technology startups and small businesses from thriving outside of areas like Silicon Valley,” Johnson said. “It’s vital that we, as a nation, tap into American deep reserves of talent and ingenuity that are present all cross the country.”

Published by The Business Journal, Youngstown, Ohio.