A tax bill passed by the U.S. House of Representatives today could double the taxes on venture capitalists as it relates to carried interest, effectively treating investors in early-stage companies worse than speculators in gold and oil derivatives, says the The National Venture Capital Association. The chief lobbying industry for the venture industry issued a harshly worded statement today after H.R. 4213 passed by a narrow margin of 215 to 204.“It is both ironic and disconcerting that legislators can profess commitment to creating jobs – and then discourage the type of long term investment which has been a proven job creator for the last century," said Mark Heesen, president of the NVCA. "We are one step closer to unraveling an economic model that has made America the global center of entrepreneurship and innovation. We urge the U.S. Senate to make the necessary changes to maintain a meaningful incentive for long term investment in the start-up economy.”
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Author: John Cook
