In this month's issue: TEA Launches legal challenges in defense of ESOPs, commentary on regulatory overreach by TEA President & CEO Jim Bonham, new advocacy resources to help you engage this Employee Ownership Month, and much more.
The ESOP Association
ESOP Association Resources
Aug. 16
As part of President Biden’s legislative agenda, the Inflation Reduction Act of 2022 becomes law. Among the policies enacted, a new excise tax is imposed on stock repurchases – with bipartisan support, ESOPs were specifically excluded from this tax, protecting the ESOP structure that relies on stock repurchases and creating a new incentive to form ESOPs. ESOPs become eligible transactions under the State Small Business Credit Initiative (SSBCI) loan program.
Aug. 12
FOR IMMEDIATE RELEASE
August 12, 2022
The ESOP Association Statement on Final Passage of Inflation Reduction Act
Today, the U.S. House of Representatives passed the Inflation Reduction Act (HR 5376). It will now advance to President Biden and is expected to be signed into law in the next ten days.
August 12, 2022
The ESOP Association Statement on Final Passage of Inflation Reduction Act
Today, the U.S. House of Representatives passed the Inflation Reduction Act (HR 5376). It will now advance to President Biden and is expected to be signed into law in the next ten days.
Aug. 08
FOR IMMEDIATE RELEASE
August 8, 2022
The ESOP Association Hails Senate Passage of Critical Provisions in Reconciliation Bill
The Senate-passed reconciliation bill in Congress, titled the Inflation Reduction Act (H.R. 5376), includes language promoted by The ESOP Association to protect employee stock ownership plans from new excise taxes on stock repurchases. This provision potentially paves the way for a tremendous financial incentive to form employee stock ownership plans.
August 8, 2022
The ESOP Association Hails Senate Passage of Critical Provisions in Reconciliation Bill
The Senate-passed reconciliation bill in Congress, titled the Inflation Reduction Act (H.R. 5376), includes language promoted by The ESOP Association to protect employee stock ownership plans from new excise taxes on stock repurchases. This provision potentially paves the way for a tremendous financial incentive to form employee stock ownership plans.
Ownership Advantage, Legal Update, Congressional Testimony, Daniel Goldstein, House testimony, Sen. Sanders, ESOP Insurance, Redeem, Recycle
Feb. 27
Member Daniel Goldstein testifies before Congress on behalf of The ESOP Association, saying regulations and help with loans must be addressed now.
Feb. 21
Washington, DC, Feb. 20, 2020—The ESOP Association is pleased that employee ownership arose in the Democratic party Presidential debate last night and that multiple candidates were able to vocalize their support. We believe more Americans need to know about and participate in employee ownership—especially ESOPs, which are the largest and most common form of employee ownership—and would encourage greater discussion about this important form of business ownership in America.
Department of Labor, Adequate Consideration
Feb. 12
Daniel Goldstein, President and CEO of Folience, testified on behalf of The ESOP Association before the House Committee on Small Business. Feb. 12, 2020.
Advocacy, Adequate Consideration
Feb. 12
The following written testimony was provided by Daniel Goldstein, President and CEO of Folience, to the Feb. 12, 2020 hearing of the House Committee on Small Business.
Advocacy, Department of Labor
Feb. 12
TEA member Daniel Goldstein, President and CEO of Folience, testified on behalf of The ESOP Association at a Feb. 12, 2020 hearing of the House Committee on Small Business. Read More >
Congressional Testimony
Feb. 10
On Feb. 12, ESOP Association member Daniel Goldstein will testify before the House Committee on Small Business on behalf of The Association and the 10.6 million employee owners in the U.S. - Read More >