Dear Secretary Snow:
The President’s Advisory Commission on Tax Reform has recommended that employee ownership through employee stock ownership plans, or ESOPs, be eliminated.
Such a recommendation is shocking, and contra to the Administration’s previous posture towards employee ownership, and flies in the face of over thirty years of Presidential and Congressional support of broadened ownership. [In fact, President Reagan’s proposal for tax reform expanded employee ownership through ESOPs.].
[As an ESOP company [partially] [wholly] owned by its employees through its ESOP] [As a professional who works with companies with employee ownership through ESOPs], [I] [we] respectfully urge the Administration to reject the Commission’s anti-ownership recommendation and urge you to reaffirm the Administration’s prior pro-ownership position.
Your consideration is appreciated.
Sincerely.
[Company official] [Employee owners]
Secretary Snow’s mailing address is Department of Treasury, 1500 Pennsylvania Avenue, Washington, DC20220, phone 202.622.1100, website www.ustreas.gov