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.
