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Trump Administration Officially Delays 'Startup Visa' Rule (sfchronicle.com)
Trisha Thadani, reporting for SFChronicle: The Trump administration has officially delayed a rule that would allow some foreign entrepreneurs to stay in the U.S. and build their companies. During this delay, the administration will propose a plan to rescind the rule all together, according to a Federal Register notice that will be published Tuesday. This official notice, which will be published in the Federal Register Tuesday, comes exactly one week before the rule was slated to go into effect. It will be delayed until March 14. The International Entrepreneur Rule, is the closest the United States has come to the "startup visa" Silicon Valley has long sought, was approved by the Department of Homeland Security in January during President Barack Obama's waning hours in office.
Conservatives are generally interested in reducing regulations for the benefit of businesses. It's a shame that xenophobia is getting in the way of something that will grow businesses and create jobs. This isn't going to take away jobs but instead create them and put Americans to work. This isn't H-1B bullshit. There really isn't a downside to keeping skilled labor in the United States that's going to create jobs for Americans. But the xenophobes that make up nearly 50% of the United States are stupid enough to turn away job creation. Sad!
And roll the dice. But let's stop playing games with privileged corporate visas that don't benefit ordinary Americans, it just benefits large corporations. Taxpayers like us are paying the bills, corporations have lawyers and accountants who help them avoid taxes and regulations that small businesses can't.
was approved by the Department of Homeland Security in January during President Barack Obama's waning hours in office
In other words, it's another one of these policies that is so utterly important to our country that Barack Obama waited until he was 7.95 years through his 8 year term to enact it, and then post-dated it to go into effect during Trump's presidency. Obviously it wasn't a big deal for Obama.
Do you have ESP?
Does that allow you to even hire a single engineer (with overhead) in the valley?
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Yep, the current administration is rolling back the previous administration's actions one regulation after another..
Isn't that what the current president said he'd do? That's what I remember from the campaign...
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Not all federal legislation is intended to benefit silicon valley and startups do exist in other places.
that might benefit American workers. These Visas were rife with potential fraud (only required $250k, little or no verification). I hate to say it because I've got friends that'll be killed by his healthcare policy but if he actually makes good on the rest of his promises to curtail the H1-B program et al his presidency will benefit me personally. At least as long as I never need pre-existing coverage (or can't just afford to move to California, NY or Massachusetts).
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I believe you had to raise $250,000 from investors to qualify. So it would be option #2.
That seems like quite a low threshold and meant for creating a loophole....
Make the threshold $10 million, have effective government oversight to check and see that these are real start-ups intended on providing products and/or services (and not just to a related company or person) and then let's talk about whether it is a good thing to have wealthy foreigners come here to employ Americans.
Either way we should really focus on a reasonable number of green cards and new citizenships for people that want to come here and become American citizens.