Later today in Washington, the Ewing Marion Kauffman Foundation will release a proposal and report titled "The Startup Act." It's not legislation but rather a package of proposals designed to facilitate growth of young firms, which interestingly, are responsible for "all" new net jobs created in our economy in recent years.
The website for more info on the Startup Act will hopefully be up later today but is not at the time of this writing.
While I don't believe that the stagnation in the American economy can be quickly overturned by only kickstarting and supporting the work of entrepreneurs, getting innovative, young firms launched -- which have traditionally been the hotbed of innovation in the country -- is better than bailing out mature firms, or doing nothing, which seems to be the state of play in Washington.
Among the proposals that the Robert Litan-crafted Startup Act includes are entrepreneurs' visas, green cards for STEM (Science, Technology, Engineering, Mathematics) degree diplomas, zero capital gains on five year long investments in startups, licensing freedoms for academic innovators who are inhibited by university-controls on licensing, ten year sunsets on all major regulations and rules, cost-benefit tests for regulations, and more.