Arlington,
Va. – Hoping to curb a proposal
currently being considered in the Senate, the National Venture Capital
Association (NVCA) on Tuesday delivered to every senator a letter urging
legislators to maintain capital gains tax treatment for venture capital carried
interest.
The letter was signed by more than 1,700 stakeholders from the
venture capital and start-up communities.
The NVCA said the current proposal
would penalize venture capitalists who earn carried interest when they build
successful companies.
"We understand lawmakers’ need for fiscal
responsibility, but removing a tax incentive that supports long term investment
of venture capital is at cross purposes with Congress’s goal of rebuilding the
national economy," said Mark Heesen, president of the NVCA.
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