With the failure of the Congressional Supercommittee to reach agreement by its deadline, some $1.2 trillion in automatic discretionary defense and non-defense federal spending cuts are set to become effective January 1, 2013 (although it remains to be seen what will occur in the intervening year).  One venture capital-related aspect of the failure to reach agreement is that there will be no action taken on changing taxation of carried interest for calendar year 2011, and likely not for 2012.  Mark Heesen, President of the National Venture Capital Association (NVCA) has a short post about this on the NVCA blog NVCAccess here.