Targeting highly skilled talents from India and China, a bi-partisan group of US lawmakers have introduced a new bill in the Congress to create more than 125,000 new visas to attract global talents to America. The bill called Startup 3.0 proposes to help increase America's access to talent by creating a new set of conditional visas for 75,000 immigrant entrepreneurs and 50,000 foreign STEM (Science technology, engineering and math) graduate students.This will create half a million new American jobs, claimed authors of the bill, early this week. The bill has the support of top US companies and organisations like Microsoft, Google, National Small Business Association (NSBA), CTIA, Consumer Electronics Association (CEA), Financial Services Forum, Computer and Communications Industry Association (CCIA), TechAmercia, Information Technology Industry (ITI), Compete America, Silicon Valley Leadership Group, and TechNet. Startup 3.0 allows qualified companies to apply research and development tax credits to their payroll tax liability, up to $250,000. For small startups, it also makes permanent the 100% capital gains tax exemption on investments that are held for more than 5 years, in addition to the 28% exemption on qualified small business stock. These provisions will unlock over $7.5 billion in new investments which will result in more innovation and jobs. Finally, the bill helps cut red tape, by requiring a cost-benefit analysis of any significant rule being proposed by a federal or independent agency. "Too often we educate the world's best and brightest in STEM fields, only to send them back to countries like India and China to open businesses and compete against us. This bill will keep top talent here in the US to build businesses that hire Americans, and drive US innovation and competitiveness," Congressman Grimm said. "With a renewed focus on comprehensive immigration reform, it is imperative that we take commonsense steps to help the US compete and win the global competition for talented innovators and entrepreneurs," Senator Warner said. The bill has been welcomed by the White House. "I'm encouraged to see continued enthusiasm and momentum in Washington to support entrepreneurs," said Steve Case, Revolution LLC CEO and member of President Obama's Council on Jobs and Competitiveness. According to the authors of the bill, research has demonstrated the positive impact of immigrants on American job creation: more than 40 per cent of all Fortune 500 companies were founded by an immigrant or the child of an immigrant. Research shows that startups create three million jobs per year, on average. Among other things, the bill eliminates the per-country caps for employment-based immigrant visas - which hinder US employers from recruiting the top-tier talent they need to grow. Senator Christopher Coons said Startup Act 3.0 will help bring ideas and discoveries from the laboratory to the marketplace, help startups access the R&D Tax Credit which supports growth and job creation, and ensuring that when a foreign-born, American-educated graduate student in science, technology, engineering or math has a great idea to start a business, they do it here in the United States instead of going home to compete with us. Among other things, the bill eliminates the per-country caps for employment-based immigrant visas - which hinder US employers from recruiting the top-tier talent they need to grow. It makes permanent the exemption of capital gains taxes on the sale of startup stock held for at least five years - so investors can provide financial stability at a critical juncture of firm growth; and creates a limited research and development tax credit for young startups less than five years old and with less than $5 million in annual receipts. "America has long been seen as the land of opportunity for innovators and entrepreneurs. We must do everything possible to make certain that remains true," Senator Jerry Moran said. Source: Hindustan Times
High skilled immigration bill introduced in US Congress
China says it firmly opposes NKorea's N-test
Beijing: China "firmly" opposes the latest nuclear test conducted by North Korea, the Chinese foreign ministry said on Tuesday. "On February 12, 2013, (North Korea) conducted another nuclear test in disregard to the common opposition of the international community," said the foreign ministry, adding that "the Chinese government is firmly opposed to this act," reported Xinhua. North Korea's official KCNA news agency has confirmed the nuclear test took place. "The scientific field for national defence of (North Korea) succeeded in the third underground nuclear test at the site for underground nuclear test in the northern part of the DPRK on Tuesday," said the news agency. Pyongyang has already conducted similar nuclear tests in 2006 and 2009. The foreign ministry said it is the firm stand of the Chinese side to bring about denuclearisation of the Korean Peninsula, prevent nuclear proliferation and safeguard peace and stability in northeast Asia. "We strongly urge (North Korea) to honour its commitment to denuclearisation and refrain from any move that may further worsen the situation.To safeguard peace and stability on the Peninsula and in Northeast Asia serves the common interests of all parties," said the statement. It added, "The Chinese government calls on all parties to respond in a cool-headed manner and persist in resolving the issue of denuclearisation of the Peninsula through dialogue and consultation within the context of the Six-Party Talks." The six-party talks, a negotiation mechanism that includes North Korea, South Korea, the US, China, Japan and Russia, were launched in 2003 but stalled in December 2008. North Korea quit the talks in April 2009. Source: News-Bullet
Obama announces troop withdrawal, economic measures in State of the Union address
US President Barack Obama delivered his annual State of the Union address. Obama's speech took place in front of a joint session of Congress as many Americans watch from home. While inviting the president to give the yearly address, House Speaker John Boehner cited the country's "immense challenges" ahead. Obama urges Iran to diplomatic solution; US President Barack Obama told Iranian leaders it was
time they ended a standoff over the country's nuclear program, just two weeks before fresh talks with world powers. "The leaders of Iran must recognize that now is the time for a diplomatic solution, because a coalition stands united in demanding that they meet their obligations," Obama said in his State of the Union address. US President pledges not to send troops abroad to fight terrorists: To fight terrorists, the US does 
not have to send troops abroad or occupy other countries, said President Barack Obama while delivering his annual State of the Union address to Congress on Tuesday. He made it understood that to counter the terrorist threat the US will help such allies as Yemen, Libya and Somalia. The US leader also offered assurances that whenever necessary, the US will continue countering terrorists by resorting to various means. The US has recently been frequently criticized for using drones to deliver pinpoint strikes to wipe out militants. Criticism comes from the fact that the drones also kill civilians quite often. Afghan war will
draw to a close by late 2014 – Obama: The Afghan war will draw to a close by late 2014, the US President Barack Obama told Congress as he addressed the lawmakers with his annual State of the Union speech. President Obama's decision to reduce troop levels in Afghanistan by 34,000 by this time next year still gives the coalition enough muscle to support Afghan security forces as they battle through another fighting season this summer while staying on track to wrap up the combat mission in two years, military officials and analysts say. "Tonight, I can announce that over the next year, another 34,000 American troops will come home from Afghanistan," Obama said. "This drawdown will continue. And by the end of next year, our war in Afghanistan will be over." Obama said the US adherence to the idea of a united and sovereign Afghanistan will be in place also after the troop pullout. The President pointed out that talks are under way with the Afghan government on drafting an agreement that would be focused on training and equipping the Afghan forces, as well as on antiterrorist efforts. The man in the White House added that the US would go ahead with the talks with Russia on further nuclear arsenal reductions. Obama hails Obamacare, targets
medicare, drugs for savings: President Barack Obama called on Congress to send him an immigration reform bill "in the next few months," upping the pressure on Senate and House members to find a compromise. "We know what needs to be done," Obama said in his State of the Union address. "As we speak, bipartisan groups in both chambers are working diligently to draft a bill, and I applaud their efforts. Now let’s get this done. Send me a comprehensive immigration reform bill in the next few months, and I will sign it right away." Obama has devoted considerable attention to immigration reform during the first weeks of his second term, including in a major address on the topic in Las Vegas at the end of last month. In that speech, the president said Congress needed to deal with immigration "in a timely manner" - without setting an exact timeframe - or else he would send his own legislation for a vote. Obama signs executive order on cyber defense: Barack Obama has signed an executive order on cybersecurity following 
rumors that he would do so. In his State of the Union address he cited “growing threat from cyber-attacks” as the reason he used his executive power against the will of lawmakers. The order, which does not have the same force as a law, directs the secretary of homeland security to "increase the volume, timeliness and quality" of information on cyber threats shared between the government and the private sector. To aid the process, the order will ease the process of sharing classified cyber threat information with eligible companies that provide or support critical infrastructure. It calls for expedited security clearance for some employees of such companies as well. Obama's executive action also orders the creation of a set of standards to reduce cybersecurity risks as well as a voluntary program, including incentives, for companies to adopt them. Cyber attacks in recent months targeted a succession of major U.S. companies and government agencies, continuing to raise the stakes in the debate about how the government and the private sector can best protect sensitive information. Obama delivers State of the Union address In a State of the Union address focused on creating middle-class jobs, President Barack Obama called on lawmakers to help pull working Americans out of poverty by raising the federal minimum wage and pegging it to
inflation. Obama's proposal to boost the wage floor to $9 an hour revives an old campaign pledge to the working poor that was derailed by the Great Recession and the stubbornly high unemployment rate of his first term. It also sets the stage for a fight with congressional Republicans and powerful business lobbies, who no doubt will assail the measure as a job-killer during a fragile recovery. "Even with the tax relief we’ve put in place, a family with two kids that earns the minimum wage still lives below the poverty line. That’s wrong," Obama said. "Tonight, let’s declare that in the wealthiest nation on Earth, no one who works full time should have to live in poverty, and raise the federal minimum wage to $9 an hour. This single step would raise the incomes of millions of working families. "It could mean the difference between groceries or the food bank; rent or eviction; scraping by or finally getting ahead. For businesses across the country, it would mean customers with more money in their pockets." State Of The Union 2013 Live (VIDEO), Reuters, Huffington Post, RT, USA Today, AFP, RIA, TASS, Source:Voice of Russia
