Happy Monday, Fortune Tech Editor Alexei Oreskovic here today, pinch-hitting for Leo. As Americans celebrated a long Independence Day weekend, they were treated to a few noteworthy displays of festivity and fireworks in the ever-fascinating relationship between Silicon Valley and Washington, D.C.
On the festive side, venture investors and startup founders cheered a provision in the Trump tax and spending bill that broadens capital gains tax exemptions for stock sales at certain small businesses. The changes to the Qualified Small Business Stock program mean that owners and investors in a domestic “C” corporation with assets up to $75 million (up from the previous $50 million threshold) will get more ways to take advantage of the benefit. A wealth planning advisor told CNBC that an investor could now put “$74.9 million into a small business and have up to $749 million exempt from capital gains if it sold for more than 10 times the original basis.”
