The President’s American Jobs Act: Fueling Innovation and Entrepreneurship

President Barack Obama unveiled the American Jobs Act, a plan to create jobs across the country and put more money in the pockets of American workers and businesses – all without adding to the deficit.
The President’s jobs plan, specifically crafted to garner quick bipartisan support, also promises to dramatically accelerate the pace of American innovation and the success of U.S. entrepreneurs, who have historically been responsible for virtually all new job growth across the country.

Five highlights:

1. Boosting access to capital for high-growth companies: As part of the President’s Startup America initiative, the Administration will work to unlock this capital through smart regulatory changes that are consistent with investor protection.
2. Turning job-seekers into job-creators: Through innovative use of Federal unemployment insurance funds, all 50 states will have the flexibility to support long-term unemployed workers who create their own jobs by starting their own companies.
3. Unleashing innovation in wireless high-speed Internet: Bipartisan, job-creating legislation will speed deployment of high-speed wireless Internet service to at least 98% of Americans
4. Modernizing more than 35,000 schools: Investing $25 billion in K-12 school infrastructure will put thousands of construction workers back on the job—with new science labs and Internet-ready classrooms a priority, in keeping with the President’s Educate to Innovate campaign
5. Making government services transparent to job creators: The President has directed both his CIO and CTO to launch BusinessUSA within 90 days. This one-stop online platform will provide access to information about the full range of government programs and services businesses need to compete globally – and it will represent the next major accomplishment of the Open Government Initiative.