A new immigration reform bill Startup Act 3.0 was introduced early last week in both the House and Senate. The Startup Act 3.0 bill is an approach targeted in increasing the number of green cards to be allotted each year, thereby improving the U.S. Economy.

This senate bill was submitted by the Republicans Jerry Moran (Kansas), Roy Blunt (Montana) and the Democrats Mark Warner (Virginia), Chris Coons (Delaware), who claims that this bill being approved would create a half a million new American jobs in the United States.

The bill can be explained under two categories:

• Providing 75,000 Entrepreneur Visas
• Creating 50,000 new visas for STEM Graduates

Providing 75,000 Entrepreneur Visas

This bill suggest to provide 75,000 new “Entrepreneur Visas” each year, for those foreign entrepreneurs who could raise at least $100,000 in funding, and hire at least 2 employees within the first year, and employ at least five full time employees in the following three years. Those candidates with Entrepreneur Visas can apply for U.S. green card after the three years.

Creating 50,000 new visas for STEM Graduates

The Startup Act 3.0 bill also would create 50,000 new visas each year to those foreign graduates with an advanced degree in Science, Technology, Engineering or Mathematics (STEM Category) from American Universities, and pursuing a career in their corresponding field of graduation since at least five years.

This bill is considered to highly target skilled talents from countries like India and China.