The ESOP Association
ESOP Association Resources
Jun. 23
Employee ownership is continuing to see support in Congress, coming off two huge wins in the U.S. Senate. This time the House Appropriations Committee is considering a bill that would continue to direct the Small Business Administration to act in support of employee ownership. This effort continues the drumbeat in Congress, led by The ESOP Association, supporting employee ownership. Details are below.
Jun. 22
Senate Finance Committee passes the Enhancing American Retirement Now (EARN) Act, which includes a provision partially expanding section 1042 tax deferral to ESOPs that are S-corporations. The EARN Act section 1042 provision matches a similar provision in the Securing a Strong Retirement Act (H.R 2954) which passed the House of Representatives in March. The bill passed the Senate Finance Committee with unanimous support.
Jun. 17
The Senate Finance Committee today released a summary of the Enhancing American Retirement Now (EARN)
Jun. 14
The United States Senate Health, Education, Labor, and Pensions (HELP) Committee has passed S. 4353, the Retirement Improvement and Savings Enhancement to Supplement Healthy Investments for the Nest Egg (RISE and SHINE) Act, which includes significant provisions that promote ESOPs and require the U.S. Department of Labor (DOL) to provide regulatory guidance the Association has been seeking for more than four decades.
Jun. 07
Comment Letter Forewarns against Future Use of Proposed New Regs Against ESOPs; Requests the Department hold Public Hearings
Jun. 02
New legislation, titled the RISE and SHINE Act, is expected to be introduced into the U.S. Senate with significant provisions that promote ESOPs and requires the U.S. Department of Labor to provide long-needed regulatory guidance.
Jan. 14
See the PDF to the right for a map and list of pre-convening freshman in Congress. A pre-convening freshman is a Member who won a seat in the general election. This category also includes people who won a special election prior to the first meeting of a new Congress.
Freshman members are important targets for outreach because they may or may not know about ESOPs and Employee Ownership.
Freshman members are important targets for outreach because they may or may not know about ESOPs and Employee Ownership.
Jan. 06
WASHINGTON – The Treasury Department and the Internal Revenue Service issued guidance today allowing deductions for the payments of eligible expenses when such payments would result (or be expected to result) in the forgiveness of a loan (covered loan) under the Paycheck Protection Program (PPP).