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Republicans in Congress Say Trump Won’t Cool Relationship with Tech

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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“The crowdfunding legislation was seven pages long and what the SEC wrote for regulations were 400 pages long,”