Senate Committee Approves Lori Chavez-DeRemer’s Nomination for Secretary of Labor

The U.S. Senate Committee on Health, Education, Labor & Pensions (HELP) today voted to advance Lori Chavez-DeRemer’s nomination for Secretary of Labor to the full Senate. The HELP Committee approved Chavez-DeRemer’s nomination in a bipartisan vote of 13-9, with Democratic Senators Maggie Hassan (NH), John Hickenlooper (CO), and Tim Kaine (VA) voting in favor and Republican Senator Rand Paul (KY) opposed. Her nomination will now advance to the full Senate where a vote could come as soon as next week. 

“The ESOP Association and the 14 million plan participants we represent applaud the Senate HELP Committee for its thorough consideration and swift approval of Lori Chavez-DeRemer’s nomination,” said James Bonham, President and CEO of The ESOP Association. “Ms. Chavez-DeRemer will be an exceptional Labor Secretary, and we hope for a speedy confirmation by the full Senate.”

The ESOP Association strongly supports Lori Chavez-DeRemer’s confirmation, and is engaged in a public affairs, grassroots and paid media campaign on her behalf. The Association believes strong leadership is necessary at the Department of Labor to reverse a culture of neglect and harassment that has had a chilling effect on ESOPs and new ESOP formation. 

“The biggest tragedy of the DOL’s decades-long war on ESOPs are the millions of Americans who have been denied the opportunity to own a portion of the businesses where they work and build the wealth that comes with that business ownership,” Bonham said. “EBSA has a responsibility to protect both plan participants as well as those businesses willing to establish an ESOP. Instead, they have weaponized their oversight against ESOP founders and fiduciaries to such a degree that very few are willing to risk their business, reputation, and energies to defend themselves from the EBSA onslaught. We believe Lori and the Trump administration can bring this war on ESOPs to a rapid end.”