Contact:

Ben Veghte
NVCA
202.864.5923
bveghte@nvca.org


FOR IMMEDIATE RELEASE:

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

“Senate Republicans have taken an important first step to modernize the code with the introduction of their tax reform legislation, and we are encouraged to see the preservation of some important priorities for the entrepreneurial ecosystem,” said Bobby Franklin, President and CEO of NVCA. “However, we are concerned some aspects of the draft legislation would cause great harm to the ecosystem, including language related to non-qualified deferred compensation that would tax stock options at vesting rather than when they are exercised. We are hopeful this can be fixed, and in the coming days, we look forward to continuing our conversations with Senators to share with them our tax reform proposals to spur new company formation as well as impress upon them how important it is that they not raise taxes on investment in entrepreneurial activity.”


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.