Small Business chief can't say why Trump opposes International Entrepreneur Rule
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U.S. Small Business Administrator Linda McMahon is unable to say why the Trump administration wants to end the International Entrepreneur Rule, which helps people starting businesses come to the U.S. When asked to respond by Axios while she was on stage at the Code Conference, McMahon replied:
"I cant speak to that. I'm not familiar with it."
Why it matters: The person charged with overseeing U.S. small businesses seems unaware of a program designed to create more U.S. small businesses.
The IEP provides temporary work permission for foreign nationals who have raised at least $250,000 from American investors to create new U.S. businesses, with extensions dependent on the startup demonstrating growth via metrics like new hiring, revenue and follow-on investment.
It was launched in the waning days of the Obama administration, but has been opposed by the Department of Homeland Security under Trump.