On February 24, 2010, Senator John Kerry and Senator Richard Lugar introduced bipartisan legislation to make it easier for international entrepreneurs to get a visa that would allow them to build their companies in the United States.
The new visa would build off the existing EB-5 class visa that currently provides a mechanism for foreign investors who are creating jobs in the USA to get permanent legal resident status. The new EB-6 Startup Visa would allow foreign entrepreneurs who have raised $250,000 from accredited investors in the USA to qualify for a two-year visa. After two years, if they have created 5 permanent full-time jobs, raised $1,000,000 more in funding, or have achieved $1,000,000 in revenue, they automatically qualify for permanent legal resident status.
This act is good for the American economy, as it provides a mechanism for new entrepreneurs to create jobs in the USA. It's also good for American society, as it helps preserve America as a beacon for entrepreneurs everywhere.