#GENIUSActPass Act
#GENIUSActPass What is the GENIUS Act?
The GENIUS Act is an American bill aimed at supporting entrepreneurship and innovation by attracting high-skilled immigrants, especially in the fields of technology, science, and engineering. It is
"Generating Entrepreneurship and Innovation for a United States Act"
When was the law applied?
• Initial proposal: In 2021 as a proposal in the U.S. Congress.
• It was not approved as a final law at that time, but was later included in proposed amendments to immigration laws.
• It reappeared in discussions on immigration reform in 2023-2024.
• So far, it is supported by members of Congress but has not become a final active law independently; rather, it is proposed to be integrated into other legislation like the (America COMPETES Act).
Reason for issuing the law
• A shortage of skills within the U.S. market, especially in the fields of artificial intelligence, cybersecurity, biotechnology, and space.
• Increasing global competition to attract innovators (especially from countries like Canada, the UK, and Germany).
• Stimulating the economy by creating high-quality jobs.
• Preventing brain drain to competing countries, especially with the rising emigration of creators to Europe.
Beneficiaries of the law:
• Entrepreneurs who have established innovative startups.
• Engineers and scientists in advanced fields.
• Outstanding graduate students in American universities, especially in STEM disciplines.
• Technical labor.