Contact:

Ben Veghte
NVCA
202.864.5923
bveghte@nvca.org


FOR IMMEDIATE RELEASE:

WASHINGTON, DC – The National Venture Capital Association (NVCA) issued the following statement today after House Republicans unveiled their draft tax reform legislation.

“We view tax reform as a unique opportunity to encourage new company formation by modernizing the tax code to better reflect the realities of the entrepreneurial business model,” said Bobby Franklin, President and CEO of NVCA.  “We are pleased the House Ways and Means Committee heard our message and is preserving several issues important to the entrepreneurial ecosystem, including Qualified Small Business Stock Rules and the R&D credit payroll offset.  We are also pleased to see the inclusion of an NVCA-backed proposal to allow startup employees to defer taxes on their exercised stock options without a liquid market to sell them.  As the process unfolds, we look forward to engaging with lawmakers on other ways tax reform can encourage new company formation, as well as reinforce for them the importance of long-term patient investment when considering changes to the taxation of carried interest capital gains.”


About National Venture Capital Association

Venture capitalists are committed to funding America’s most innovative entrepreneurs, working closely with them to transform breakthrough ideas into emerging growth companies that drive U.S. job creation and economic growth. As the voice of the U.S. venture capital community, the National Venture Capital Association (NVCA) empowers its members and the entrepreneurs they fund by advocating for policies that encourage innovation and reward long-term investment. As the venture community’s preeminent trade association, the NVCA serves as the definitive resource for venture capital data and unites its member firms through a full range of professional services. For more information about the NVCA, please visit www.nvca.org.