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.
Mar. 31
The U.S. House of Representatives passed H.R. 2954, the Securing A Strong Retirement Act (SECURE 2.0) by a massive bi-partisan majority of 414 to 5. Included in the House-passed version are two provisions that will assist Employee Stock Ownership Plans (ESOPs) or business owners seeking to establish them.
Mar. 11
Yesterday the House of Representatives passed H.R. 2471, an omnibus spending bill consisting of all 12 fiscal year 2022 appropriations bills and supplemental funding to support Ukraine.
Late last evening, in less than 48 hours after the final text was unveiled, the Senate passed this spending package that will fund the federal government through September 2022. The funding package now heads to the White House for President Biden’s signature.
Most importantly for TEA members, the bill includes some wins for employee ownership.
Late last evening, in less than 48 hours after the final text was unveiled, the Senate passed this spending package that will fund the federal government through September 2022. The funding package now heads to the White House for President Biden’s signature.
Most importantly for TEA members, the bill includes some wins for employee ownership.
Mar. 10
On March 9th, the House passed H.R. 2471, an approximately $1.5 trillion omnibus spending bill consisting of all 12 fiscal year 2022 appropriations bills plus supplemental funding of $14 billion to support Ukraine and other measures. The legislation passed in two pieces with two votes, each of which had bipartisan support. The Senate is expected to act and pass the bill before week’s end. Most importantly for TEA members, the bill includes some wins for employee ownership.