The retail industry, the labour fund industry, is very concerned about the impact that this will have on liquidity in the next few years. It has sent a message that 50% of the tax credit is going to be eliminated for investors. It has created great doubt by those of us in the industry, as well as the investment advisers who support the industry by recommending the asset class to their investors.
Of course, it has also caused great concern for the portfolio companies who are relying on our funds for follow-on investments and entrepreneurs who are looking for new investment in their companies.