Rep. Kevin Grady (R-TX), chair of the House Ways & Means Committee

Justin Field, VP of government affairs for the National Venture Capital Association, talks to Axios about what he's hoping for when the House GOP unveils its plan tomorrow.

Broad stokes: "There has been a lot of talk about making existing large companies and small businesses more competitive, but we also want focus on how tax reform can increase startup formation."

VC wish list:

  • Retain existing tax treatment of carried interest.
  • Improve R&D tax credits for startups.
  • Create safe harbor for startups from net operating loss limitation rules.
  • Simplify qualified small biz stock rules.

Horror story: Anything that reminds the NVCA of the plan put forth in 2014 by former GOP Congressman Dave Camp.

Money matters: The NVCA's political action committee donated $5,000 to Rep. Kevin Brady (R-TX), who is leading the House GOP's tax-writing group, this past March.

Go deeper: Axios' Caitlin Owens reports on how the Senate's plan is shaping up. Worth noting that both chambers seem to be warming to the idea of phasing in that 20% corporate rate.

Go deeper

35 mins ago - Podcasts

The fight over fracking

Fracking has become a flashpoint in the election's final week, particularly in Pennsylvania where both President Trump and Joe Biden made stops on Monday. But much of the political rhetoric has ignored that the industry has gone from boom to bust, beset by layoffs, bankruptcies and fire-sale mergers.

Axios Re:Cap digs into the state of fracking, and what it means for the future of American energy, with Bob McNally, president of Rapidan Energy Group.

Democrats sound alarm on mail-in votes

Photo: Mark Makela/Getty Images

Democrats are calling a last-minute audible on mail-in voting after last night's Supreme Court ruling on Wisconsin.

Driving the news: Wisconsin Democrats and the Democratic secretary of state of Michigan are urging voters to return absentee ballots to election clerks’ offices or drop boxes. They are warning that the USPS may not be able to deliver ballots by the Election Day deadline.

Nxivm cult leader Keith Raniere sentenced to life in prison

Carts full of court documents related to the U.S. v. Keith Raniere case arrive at the U.S. District Court for the Eastern District of New York in May 2019. Photo: Drew Angerer/Getty Images

Nxivm cult leader Keith Raniere, 60, was sentenced to 120 years in prison on Tuesday in federal court for sex trafficking among other crimes, the New York Times reports.

Catch up quick: Raniere was convicted last summer with sex trafficking, conspiracy, sexual exploitation of a child, racketeering, forced labor and possession of child pornography. His so-called self-improvement workshops, which disguised rampant sexual abuse, were popular among Hollywood and business circles.

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