Senator Coons floats idea to help innovative small businesses

Senator Coons went to the Senate floor this afternoon to lay out an idea he’s been working on to help entrepreneurs and the leaders of young businesses to grow their companies by investing in research and development.

The Research and Development Tax Credit has helped incentivize innovation at established businesses for 30 years, which is why Chris is such an ardent supporter of the credit and has twice introduced legislation to make it permanent. The problem is, young companies that aren’t yet profitable can’t benefit from the tax credit.

So how can the federal government help those businesses grow and create jobs?

Chris’ idea would create a tradable version of the R&D Tax Credit. Innovative young companies looking to expand their research and development efforts would be eligible for this “innovation credit,” which they would then be able to sell to a bigger, more established company. The bigger company gets the tax credit, while the young company gets a cash infusion.

It’s win-win.

In his remarks Monday afternoon, Chris talked about two innovative Delaware companies that might be able to utilize such a tradable credit like this — Elcriton in New Castle and Evozym in Newark. You can watch the speech above or click here to read the full transcript.

The Senator is eager for feedback on the idea, and invited other legislators and business leaders to weigh-in and help shape the idea before he introduces it as legislation. You can share your own opinion on the idea by clicking here.

The Senator’s week ahead schedule: February 6 to February 12

Monday, February 6, 2012 at 4:00 p.m. — The Senator will preside over the Senate.  Washington, D.C. – Open to press who wish to sit in the Senate Gallery.

Tuesday, February 7, 2012 at 9:30 a.m. — The Senator will speak at the American Chemistry Council’s “From Chemistry to Energy” Campaign Launch. The launch will feature policy recommendations for energy efficiency, energy recovery, and shale gas development. Job growth and the overall positive contribution of the chemical industry will be emphasized as a part of the Council’s advocacy and awareness campaign. Room H-137, U.S. Capitol Building, Washington, D.C. – Open to press.

 Thursday, February 9, at 10:00 p.m. — The Senator will attend a Senate Judiciary Committee business meeting. 226 Dirksen Senate Office Building, Washington, D.C. – Open to press.  

Friday, February 10 at 1:00 p.m. — The Senator will attend a Citibank Ribbon-Cutting Ceremony. In honor of Citibank’s new Wilmington branch, the event will include tours of the facility and remarks by state and local officials. Brandywine Building, 1000 N. West Street, Wilmington, DE  – Open to press.  

Friday, February 10, at 2:30 p.m. — The Senator will speak at the investiture ceremony of Richard G. Andrews for U.S. District Court Judge for Delaware. Senator Coons was an outspoken supporter of Richard Andrews’ Senate confirmation to the Delaware bench. Andrews was confirmed by the Senate in November. Federal Building, 844 North King, Wilmington, DE – Open to press.

Saturday, February 11, at 8:00 a.m. — The Senator will attend a Delaware National Guard Homecoming Ceremony for the 126th General Support Aviation Battalion Delaware Element. Clarion Hotel, 1612 North DuPont Hwy, New Castle, DE – Open to press.  

Note: Schedule is subject to change

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Senator Coons calls on Komen Foundation to restore Planned Parenthood funding

Senator Coons joined 25 of his Senate colleagues on Thursday in penning a letter to Nancy Brinker, Founder and CEO of Susan G. Komen for the Cure, urging her to reconsider her organization’s decision to stop funding cancer screenings at Planned Parenthood, a trusted provider of health care for women and men.

Twenty percent of all women in the U.S. have visited a Planned Parenthood health center, where more than 90 percent of the services provided are primary and preventative including wellness exams and cancers screenings.

“It would be tragic if any woman — let alone thousands of women — lost access to these potentially life-saving screenings because of a politically motivated attack,” the Senators wrote. 

Susan G. Komen for the Cure Foundation funds have saved countless lives. In 2011 alone, grants from the foundation provided Planned Parenthood with roughly $650,000 in funding for breast cancer prevention, screening, and education. Komen funding for Planned Parenthood has provided nearly 170,000 clinical breast exams and resulted in 6,400 referrals for mammograms.

The letter is below:

What We’re Reading: President Sirleaf’s op-ed on effort to eradicate malaria

The Huffington Post: On Sunday, President Ellen Johnson Sirleaf of Liberia penned an op-ed on the global effort to end the spread of malaria in Africa, which causes nearly 3 million deaths each year. President Sirleaf is one of 41 African presidents that have joined together to work toward ending fatalities from malaria in their home country.  

Just as deadly mosquitoes suck the blood from our children, malaria drains the lifeblood from our economies, and with it, hope and opportunity from our lives. Most adult cases of malaria don’t end in death, but they do keep entrepreneurs from their businesses, farmers from their fields, and market traders from their stalls. The disease costs Africa an estimated $12 billion a year in lost productivity.

But to understand malaria’s true impact, consider that the disease can rob individual families in poorer communities of as much as 25 percent of their disposable income. By controlling malaria we eliminate a major obstacle to sustainable economic development and stability in Africa.

Senator Chris Coons, the chair of the Senate Foreign Relations Subcommittee on African Affairs, visited Liberia in January as part of the official U.S. delegation attending President Sirleaf’s inauguration ceremony.

Chris has been a leader in raising awareness about malaria prevention in the Senate. Last June, the Senate unanimously adopted a bipartisan resolution honoring World Malaria Day Chris introduced with Senator Roger Wicker (R-Miss.).

Click here to read the entire op-ed in The Huffington Post.

Click here to learn more about Chris’ work on foreign relations.

In op-ed, Senator Coons writes that Violence Against Women Act must be reauthorized

From The Huffington Post: On the day the Senate Judiciary Committee took up the reauthorization of the Violence Against Women Act, Senator Coons, a member of the Committee and founder and co-chair of the Senate Law Enforcement Caucus,  penned an op-ed stating his support for working to prevent domestic abuse.

The right to live in peace, free from abuse, fear and violence is universal, yet threats to this basic right can be found across lines of race, class and even gender. If we are to protect this right and truly build a climate of security, these crimes cannot be tolerated.

That’s why today, my Senate Judiciary Committee colleagues and I are taking up a reauthorization of the Violence Against Women Act (VAWA). Originally passed in the 1990’s, certain provisions of this law were written in such a way that they had to be reauthorized every five years, including this year. This reauthorization process isn’t a signal that Congress is uncertain about the need for VAWA. On the contrary, it signifies a belief that protecting victims of domestic and dating violence is so important that we must revisit it every five years to make sure that we are getting it right.

The Violence Against Women Act has made a real difference in the nearly two decades it has been the law of the land, with the annual incidence of domestic violence falling by more than 50 percent. Yet we still have a long way to go. Just this year we saw a tragedy unfold in Delaware, where three children watched as their mother was beaten to death on a sidewalk by her ex-boyfriend.

Evil of this kind thrives in darkness, and the Violence Against Women Act serves as a brilliant spotlight, illuminating these crimes so those responsible can be held accountable. In previous generations, domestic violence was just as widespread as it is today, but it simply wasn’t discussed in public. We’ve made considerable progress in bringing domestic violence out from the shadows and seen as a crime not only to be recognized, but to be addressed. As a parent myself, I believe we must keep up our efforts, and that through education and persistence, we can do even more for the next generation.

Click here to read the op-ed in The Huffington Post.

Click here to read Chris’ release on cosponsoring the Violence Against Women Act reauthorization.

Chris talks leadership with Delaware Girl Scouts

In honor of Girl Scouts of the United States of America’s 100th Anniversary, Senator Chris Coons joined with Senator Tom Carper and Congressman John Carney to host a meet-and-greet with 27 Delaware Girl Scouts who traveled to Washington, D.C. on Wednesday. The Girl Scouts have named 2012 as “The Year of the Girl,” where they will focus on leadership for girls and young women.

During the meeting, Chris talked with the girls about how his wife, Annie, was a Girl Scout when she was younger and his daughter, Maggie, is currently enjoying her time as a member of the Chesapeake Bay Chapter, which includes nearly 15,500 girls and 5,500 adults.

Chris encouraged the girls to pursue a career in the sciences, where women have been making inroads in a traditionally male dominated field.  He went on to discuss the importance of women taking leadership positions, stating that some of the most influential and educational bosses he’s had throughout his career were women who pushed him to reach his full potential.

A recent Girl Scout study highlighted a leadership gap, finding that close to three in five girls think that a woman can rise up in a company but will only rarely be put in a senior leadership role.  It also found more than one-third of girls say they would not feel comfortable trying to be a leader and almost 40 percent are not sure if they are cut out to be a leader. To address this issue, the new “ToGetHerThere” campaign, which is part of the centennial “Year of the Girl” theme,  includes a $1 billion philanthropic effort to support services and programs for girls across the nation and in 94 countries globally to help fill critical talent gaps in finance, science, technology, environmental, and global leadership arenas.

Click here to learn more about Chris’ work on education reform.

Click here to learn more about Girl Scouts of the United States of America.

What We’re Reading: Obama calls for tax package featuring pieces from AGREE Act

On Tuesday, the Associated Press previewed President Obama’s legislative proposal to enact or expand tax breaks for small businesses and remove barriers to startups. The President’s proposal, which was introduced today,  features several key elements of the American Growth, Recovery, Empowerment and Entrepreneurship (AGREE) Act introduced by U.S. Senator Chris Coons (D-Del.) and U.S. Senator Marco Rubio (R-Fla.) in November.

The proposals borrow from past Obama initiatives and from bipartisan legislation that has either already passed in the House or is being proposed in the Senate. Obama’s package includes proposals offered in the Senate by Democrat Chris Coons of Delaware and Republican Marco Rubio of Florida and another plan by Republican Jerry Moran of Kansas and Democrat Mark Warner of Virginia.

Click here to read the full Associated Press article.  

Click here to read Senator Coons’ press release on President Obama’s proposal.  

Click here to learn more about the bipartisan AGREE Act.

Senate analyzes global energy trends

The Senate Committee on Energy and Natural Resources held an oversight hearing today on the U.S. and global energy outlook for 2012. Each year, the committee holds a similar hearing to focus on recent trends in energy production and consumption in the U.S. and around the world.

“While Americans have become more aware of their energy consumption, we still have a long way to go to create a clean energy world,” Senator Coons, a member of the Energy Committee, said. “I’m encouraged by a number of the findings that were discussed in today’s hearing and will continue to work with my colleagues on the Committee to champion clean energy and energy efficiency, which will not only boost our economy and create jobs, but also increase our national security and improve our environment.”

Some of today’s noteworthy domestic findings include:

• The energy intensity of the U.S. economy is expected to decline by 42 percent between 2010 and 2035
• Oil imports, as a share of total U.S. oil consumption,  are expected to decline from 49 percent in 2010 to 36 percent in 2035, with the decline attributable to:
  • U.S. natural gas prices are expected to remain below $5 per thousand cubic feet
  • U.S. greenhouse gas emissions from energy-related sources are expected to remain below 2005 levels throughout the forecast period

Key findings of the latest World Energy Outlook include:

• China and India together will account for 50 percent of global energy demand growth between 2010 and 2035
• Renewable energy, followed by natural gas, will meet much of the energy demand growth over the forecast period.  In contrast, almost half of the energy demand growth between 2000 and 2010 was met with coal
• While the U.S., Europe, and Japan will all be less reliant on imported oil in 2035, China and India will be sharply more reliant on imported oil than they are today
• If the world uses less nuclear power than expected, in the wake of the Fukushima disaster, demand for coal and natural gas will increase, and greenhouse gas emissions from the power sector will also increase

A panel of four witnesses testified at the oversight hearing: The Energy Information Administration’s Acting Administrator and Deputy Administrator Dr. Howard Gruenspecht; the International Energy Agency’s Deputy Director Ambassador Rickard Jones; PFC Energy’s Partner and Head of Financial Advisory Mr. Roger Diwan; and Cambridge Energy Research Associates’ Managing Director Mr. Jim Burkhard.

Click here to learn more about Chris’ work to advance clean energy initiatives.

Senator Coons votes in favor of the STOCK Act

Senator Coons this evening voted ‘yes’ on the motion to proceed to the bipartisan Stop Trading on Congressional Knowledge (STOCK) Act, which would clarify that Members of Congress are subject to insider trading laws and create new reporting requirements for those who serve. In particular, it prohibits members and their staff from using “nonpublic information” obtained as part of their official duty for “personal benefit.”

Chris feels strongly that Congress should live by the same rules as every other American, and that the STOCK Act is worthy of the deep, bipartisan support shown in the Senate’s overwhelming cloture vote Monday night.

The STOCK Act clarifies what some perceive to be a hole in existing insider trading laws, stating explicitly that Members of Congress owe a “duty” to the United States Government and their citizens, and thus cannot breach that duty by trading on nonpublic information. Beyond this clarification, the STOCK Act provides a general prohibition against any personal gain derived from obtaining nonpublic information through a member’s duties.

The Act also increases the reporting requirements under the Ethics in Government Act. Currently, any purchase or sale of a security (public or private) must be reported annually. The Act will now require reports to be made within 30 days of the transaction.

With the motion to proceed agreed-to, the STOCK Act now awaits a vote of final passage later this week, then consideration in the House of Representatives and the President’s signature.

Senator Coons visits company insourcing to Delaware

This weekend, Senator Coons paid a visit to top leadership from Appletree Answering Service, a fast-growing business with offices in Wilmington. A live answering service, Appletree has grown from a two-room office to employ more than 600 people in 22 locations across the United States. As their business grows, Appletree is “insourcing” call center jobs by moving them back from overseas to the U.S.

Chris had breakfast with Appletree’s CEO, John Ratliff, and 130 other company leaders as they held their corporate retreat in Wilmington on Saturday. At the meeting, Chris discussed the business climate in Delaware and heard more about Appletree’s business model, which relies heavily on customer service. John Ratliff told Chris that much of their success is dependent on moving jobs back to America, as their clients are eager for call center employees who are located in the same geographic region as their customers.  

At Saturday’s retreat, Chris was also treated to a presentation about Appletree’s internal program, known as “Dream On.” Intended to help the company get to know their employees better and make a positive impact in their lives, the programs grants wishes to employees in need, similar to the Make-A-Wish Foundation. Following a video about the program, Chris told Appletree how grateful he was to have a company so committed to its employees looking to expand in Delaware.

In 2007, Ratliff was named Entrepreneur of the Year by the New Castle County Chamber of Commerce for his work at Appletree.

Before he left, Chris told the group, “You’re in one of the most exciting, highest potential, highest touch, highest quality customer service businesses in our country. I look forward to coming back when you are ten times bigger, when you have been named one of the fastest growing private companies in America, and when you have been ranked one of the best companies in the world to work for, all of which I am confident will happen. I love great places to work. You’re in one of them. Let’s help it grow together.”