An Initial Look at President Biden’s Proposals
Wednesday, President Biden introduced the nation to his American Jobs Plan and Made in America Tax Plan -- plans that seek to alter the federal tax structure, boost America’s infrastructure, and address issues related to families. We have conducted an initial review of these proposals, specifically the tax changes, to consider their effects on the ESOP community. Below are some observations on how these proposed changes, as currently presented, may affect ESOPs.
The ESOP Association
ESOP Association Resources
May. 24
The Main Street Employee Ownership Act is signed into the law, as part of the John S. McCain National Defense Authorization Act for Fiscal Year 2019. The law makes it easier for small companies to use the Small Business Administration’s 7(a) program to finance a transition to an employee-owned business, such as an ESOP.
ESOP Report, Legal Update, Ownership Advantage, President's Corner, Washington Report, Stock Drop Cases, Advocacy, Gary Shorman, Ali Jamshidi, Karen Ellis, DOL, Resource
May. 01
Rep. Guthrie elicits key on-the-record comments from Labor Secretary Acosta.