NATIONAL VENTURE CAPITAL ASSOCIATION for NATIONAL VENTURE CAPITAL ASSOCIATION

Taxation/Internal Revenue Code TAX

S. 445, The Carried Interest Fairness Act of 2025; H.R. 1091, The Carried Interest Fairness Act; S. 695, The Small Business Investment Act of 2025; H.R. 1199, The Small Business Investment Act of 2025; S. 866, The American Innovation and Jobs Act of 2025; H.R. 1990, The American Innovation and R&D Competitiveness Act of 2025; H.R. 1, The One Big Beautiful Bill Act of 2025; Public Law No. 115-97 (The Tax Cuts and Jobs Act); Energy Tax Credits included in Public Law No. 117-169 (The Inflation Reduction Act).

Contacted: White House Office; SENATE; Internal Revenue Service (IRS); HOUSE OF REPRESENTATIVES; Treasury, Dept of

Bills named: H.R. 1 (119th), H.R. 1990 (119th), H.R. 1199 (119th), S. 866 (119th), S. 445 (119th), S. 695 (119th), H.R. 1091 (119th)

Banking BAN

Regulation D and exempt offering framework; Emerging growth company and small cap company capital formation issues; Blockchain regulatory and policy issues; Digital Asset Market Clarity (CLARITY) Act (H.R. 3633), GENIUS Act of 2025 (S.394), and STABLE Act of 2025 (H.R.2392); capital formation and JOBS Act modernization; Developing and Empowering our Aspiring Leaders (DEAL) Act; Improving Capital Allocation for Newcomers (ICAN) Act; Implementation of the Foreign Investment Risk Review Modernization Act; foreign outbound investment restrictions; FinCEN rule on Anti-Money Laundering/Countering the Financing of Terrorism Program and Suspicious Activity Report Filing Requirements for Registered Investment Advisers and Exempt Reporting Advisers.

Contacted: Securities & Exchange Commission (SEC); SENATE; HOUSE OF REPRESENTATIVES; Defense, Dept of (DOD); Financial Crimes Enforcement Network (FinCEN); Treasury, Dept of

Bills named: S. 394 (119th), H.R. 3633 (119th), H.R. 2392 (119th)

Immigration IMM

Creation of a Startup Visa; International Entrepreneur Rule; H-1B Visas.

Contacted: Homeland Security, Dept of (DHS); White House Office; HOUSE OF REPRESENTATIVES; SENATE

Energy/Nuclear ENG

Implementation issues around the Inflation Reduction Act (H.R.5376) Public Law No. 117-169 and the Infrastructure Investment and Jobs Act H.R.3684; Energy tax credits included in H.R.1, The One Big Beautiful Bill Act; Energy permitting reform; ARPA-E.

Contacted: Energy, Dept of; White House Office; Office of Science & Technology Policy (OSTP); SENATE; HOUSE OF REPRESENTATIVES

Bills named: H.R. 5376 (119th), H.R. 3684 (119th), H.R. 1 (119th)

Health Issues HCR

Drug pricing issues; CMS reimbursement including Medicare coverage of innovative technology; streamlining the FDA approval process, implementation of the Inflation Reduction Act (H.R.5376) Public Law No. 117-169; federal research funding, Advanced Research Project Agency- Health.

Contacted: White House Office; Food & Drug Administration (FDA); Centers For Medicare and Medicaid Services (CMS); HOUSE OF REPRESENTATIVES; SENATE; Health & Human Services, Dept of (HHS)

Bills named: H.R. 5376 (119th)

Copyright/Patent/Trademark CPT

Intellectual property issues that impact startups.

Contacted: White House Office; SENATE; HOUSE OF REPRESENTATIVES; Natl Institute of Standards & Technology (NIST); Patent & Trademark Office (PTO)

Science/Technology SCI

Basic research funding and technology commercialization issues; Artificial Intelligence policy issues, including development of a U.S. AI Action Plan; CREATE AI Act H.R.2385; Implementation of the Inflation Reduction Act (H.R.5376) Public Law No. 117-169; Implementation of Infrastructure Investment and Jobs Act H.R.3684; Implementation of CHIPS and Science Act H.R.4346 TIP Directorate and program appropriations.

Contacted: SENATE; Natl Science Foundation (NSF); Energy, Dept of; Office of Science & Technology Policy (OSTP); Small Business Administration (SBA); Commerce, Dept of (DOC); HOUSE OF REPRESENTATIVES

Bills named: H.R. 4346 (119th), H.R. 3684 (119th), H.R. 2385 (119th), H.R. 5376 (119th)

Small Business SMB

SBIR/STTR reauthorization; implementation of the Inflation Reduction Act (H.R.5376) Public Law No. 117-169; the SBIC accrual debenture license for critical technology investment funds; 7(a) affiliation rulemaking.

Contacted: White House Office; SENATE; Treasury, Dept of; Defense, Dept of (DOD); HOUSE OF REPRESENTATIVES; Small Business Administration (SBA)

Bills named: H.R. 5376 (119th)

Labor Issues/Antitrust/Workplace LBR

Issues related to diversity and inclusion in the venture capital workforce; issues related to workforce development and implementation of Inflation Reduction Act (H.R.5376) Public Law No. 117-169, the Infrastructure Investment and Jobs Act H.R.3684, and the CHIPS and Science Act H.R.4346. Antitrust and competition policy impacting startups; FTC rulemaking on Hart-Scott-Rodino premerger notification program; FTC-DOJ Merger Guidelines

Contacted: HOUSE OF REPRESENTATIVES; Natl Science Foundation (NSF); SENATE; Justice, Dept of (DOJ); Commerce, Dept of (DOC); Federal Trade Commission (FTC)

Bills named: H.R. 5376 (119th), H.R. 3684 (119th), H.R. 4346 (119th)

Trade (domestic/foreign) TRD

Monitor updated export control regulations.

Contacted: HOUSE OF REPRESENTATIVES; SENATE

Defense DEF

Issues related to streamlining procurement through the Department of Defense; issues related to private capital and procurement as it relates to the FY2026 National Defense Authorization Act (NDAA).

Contacted: White House Office; Defense, Dept of (DOD); SENATE; HOUSE OF REPRESENTATIVES

Agriculture AGR

Blockchain regulatory and policy issues; Digital Asset Market Clarity (CLARITY) Act (H.R. 3633), GENIUS Act of 2025 (S.394), and STABLE Act of 2025 (H.R.2392)

Contacted: Commodity Futures Trading Commission (CFTC); HOUSE OF REPRESENTATIVES; SENATE

Bills named: H.R. 2392 (119th), H.R. 3633 (119th), S. 394 (119th)