WASHINGTON (Reuters) - The White House will
announce an effort Monday to encourage job-creating start-up
businesses in hopes of reducing the country's stubbornly high
unemployment rate.
Senior officials are to launch a national campaign called
"Startup America," which will encourage private sector
investment in startups and small firms, accelerate research and
address barriers to success for entrepreneurs and small
businesses.
Officials are to announce that President Barack Obama will
propose making permanent the elimination of capital gains taxes
on key investments in small businesses, a White House official
said.
That provision was passed in September as part of a
temporary measure. Obama's fiscal 2012 budget proposal to be
released in two weeks will propose making the provision
permanent.
Officials will also announce that the Small Business
Administration will direct $2 billion over the next 5 years to
match private sector investment funding for startups. The money
is already in the budget.
(Reporting by Steve Holland; Editing by Todd Eastham)
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