Congressional Republicans Should Support Entrepreneurs and Risk-Taking in Tax Reform Bill

House Republicans are fast-tracking tax reform and the newest iterations by the Chairman of the tax-writing Committee, Rep. Kevin Brady, (R-Texas) correctly protects the carried interest tax provision, an extremely important financial mechanism for supporting growth and innovation as well as long a boogeyman of left-wing redistributionists.
Mr. Brady has proposed the addition of a holding period of three years before partners and investment managers would qualify for taxation as a capital gain. This minor modification won’t please the Bernie Sanders’ of the world or the New York Times, but will thankfully continue to incentivize venture investment in early-stage companies and ensure tax-reform is oriented towards promoting economic growth and innovation.
For those unfamiliar, the carried interest provision is a provision in our tax code that treats certain kinds of profits from investments as capital gains rather than income. Often associated with private equity, venture capital, and other alternative investments, it is

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