The National Venture Capital Association on Thursday offered Donald Trump a wish list of what it would like to see during the next administration, confronting the controversial issue of immigration with a call for startup visas and expressing support for net neutrality rules.
In a letter to the president elect, the lobbying group argued that the venture capital industry faces unprecedented global competition, including from nations with more supportive entrepreneurial policies.
Twenty years ago, U.S. entrepreneurs received approximately 90 percent of global venture capital investment. That share fell to 54 percent in 2015, the letter stated.
“If we fail to engage now, our leadership may soon be in jeopardy,” wrote NVCA President Bobby Franklin.
Near the top of the wish list was a plea to hold the line on carried interest for venture capitalists. Trump, during his campaign, vowed to do away with the special treatment for carry and tax it as ordinary income.
It also called for changes to IPO rules and encouraged government support for basic research.
But perhaps its most pointed statement was to encourage startup visas for immigrant entrepreneurs who create jobs in the United States.
“Debate during the election often focused on illegal immigration, but unfortunately not how legal immigration can create jobs for American citizens, including in underemployed areas,” Franklin said.
The letter also offered support for net neutrality rules giving startups equitable access to customers and Internet governance that maintains a global Internet for free expression and commerce. Trump has been critical of net neutrality.