Tax Reform Bill Includes Important Support for New Companies


By: Marianne Hudson, ACA Executive Director

On November 2, Congressional Republicans introduced their new tax reform legislation.  It includes many tax cuts and simplifications that are getting considerable media attention.  I am heartened by a focus that is getting much less press – a focus on entrepreneurship and innovation, in recognition of the importance of the formation of new companies on our economic health.  The bill continues some tax policies ACA has fought for and so ACA has provided a message of support for the bill.  Below is a copy of our public statement supporting the bill, H.R. 1.

November 2, 2017

Rep. Kevin Brady
Chairman, Committee on Ways and Means
U.S. House of Representatives
Washington, DC

Dear. Rep. Brady,

H.R. 1, the Tax Cuts and Jobs Act, is a once in a lifetime opportunity to modernize our tax code by reducing the tax burden of American families, streamlining our tax code and incentivizing companies to invest in American jobs. As the trade association for over 13,000 accredited angel investors, angel groups, on-line platforms and family offices, the Angel Capital Association commends Chairman Brady and the House Republicans for taking a positive step forward while protecting critical incentives for new businesses and investors in early stage companies. H.R. 1 protects qualified small business stock (Section 1202) which encourages individuals to invest in high growth early-stage startup companies and continues the important R&D tax credit for new high growth companies. It is a proven fact that the net new jobs in our economy over the past thirty-years have come from high growth startup companies, many funded by angel investors. As the House and the Senate continue to debate tax reform, ACA encourages Congress to prioritize new business formation through pro-entrepreneur incentives in the U.S. tax code for both investors and early stage companies.

Regards,

Marianne Hudson
Executive Director, Angel Capital Association 

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