The House of Representatives on July 17, 2018 passed two bills designed to better equip job creators in our state to grow and thrive.
The Fostering Innovation Act and the HALOS Act passed on July 17th as part of S. 488, the Jobs and Investor Confidence Act.
S. 488 passed the house on a voice vote.
Congresswoman Kyrsten Sinema (AZ-09) introduced the Fostering Innovation Act and is an original cosponsor of the HALOS Act.
“It’s our job to help Arizona small businesses thrive, not hold them back with unnecessary red tape,” said Congresswoman Sinema. “These two bills are commonsense solutions that help grow Arizona’s economy and create good-paying jobs right here in our state. I’ll keep working across the aisle to make sure innovative Arizona businesses can continue to compete and win.”
The Fostering Innovation Act provides commonsense regulatory relief for Arizona companies on the cutting-edge of scientific and medical research, helping them to bring more high-tech, high-wage jobs to Arizona. Sinema introduced the legislation with Congressman Trey Hollingsworth, Republican from Indiana.
“We greatly appreciate Congresswoman Sinema’s leadership in addressing this key issue and for all of her efforts to remove obstacles from the path of our innovators so they can move American innovations forward faster,” said Joan Koerber-Walker, President and CEO of the Arizona Bioindustry Association. “Investment is a critical component in the growth of our biotech and medtech companies and this bill puts the focus on growth instead of red tape. It frees up resources that can be used to hire more of the talented people we have in Arizona and allows our innovators to focus more time on growing great companies.”
The HALOS Act helps promising Arizona startups establish themselves and access capital. As Arizona’s tech sector continues its growth, the HALOS Act will help dynamic companies grow and hire. Sinema introduced the legislation with Congressman Steve Chabot, Republican from Ohio.