Venture capitalists are pushing back against a Senate proposal to rein in an executive tax perk, arguing it could make it hard for startups to compete with large corporations.
The proposal (S. 3341), from 2020 presidential candidate Bernie Sanders (I-Vt.) and Sen. Chris Van Hollen (D-Md.), represents the latest salvo Democrats have fired at deferred compensation and income from capital assets, which they see as contributing to widening wealth inequality in the U.S.
Van Hollen acknowledged the initial pushback.
“We are sensitive to that. Obviously we want to continue to promote startups,” he told Bloomberg Tax. ...
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