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House Majority Leader Kevin McCarthy at the Republican National Convention. Photo by Bloomberg.
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Republicans in Congress Say Trump Won’t Cool Relationship with Tech

By  |  Nov. 15, 2016 7:00 AM PST
Photo: House Majority Leader Kevin McCarthy at the Republican National Convention. Photo by Bloomberg.

As Silicon Valley comes to terms with Hillary Clinton’s loss, Republican lawmakers and tech entrepreneurs are rekindling relationships that will be key to pushing forward on hot-button issues like startup taxes and repatriation of overseas cash.

One of the key relationship builders is House Majority Leader Kevin McCarthy, a congressman representing California’s 23rd district, who has a long history of dealing with the tech industry. Influential in determining which bills come up for a vote, he helped pass a bill in the House that would let employees defer paying all the taxes on unrealized stock gains for up to seven years. Before becoming majority leader, he helped pass the Jumpstart Our Business Startups Act, or JOBS Act, which loosened restrictions on crowdfunding and made it easier for startups to put off going public.

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