Senator Van Hollen is a strong supporter of ESOPs and it was our pleasure to host him at the International Employee Ownership Center for an event. Employee owners in Maryland should be proud of his advocacy on their behalf.
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.
Apr. 27
Today, during a Small Business Administration Budget Hearing, Rep. Dean Phillips (MN-3) engaged Administrator Isabel Guzman of the Small Business Administration on the issue of employee ownership. Rep. Phillips is a member of the House Small Business Committee who is a former businessman with a family history of employee ownership.
Apr. 22
On behalf of the more than 10.6 million American employee-owners with an ownership interest in an Employee Stock Ownership Plan (ESOP) company, The ESOP Association applauds Representative Young Kim of California, along with Reps. Jason Crow of Colorado, Dean Phillips of Minnesota, and Elise Stefanik of New York, for introducing a bipartisan “Golden-preneurship Act” in the House.
Apr. 19
Senator Bernie Sanders, Independent Senator from Vermont and ESOP supporter will be addressing the National Conference on May 5, 2022.
Senator Sanders, the longest standing Independent member of Congress, has represented Vermont in the US Senate since 2007. In his 3rd term in the Senate, he is currently the Chairman of the Senate Budget Committee, and a high-ranking member of the Senate Health, Education, Labor, and Pensions Committee, among other Senate committee assignments.
Senator Sanders, the longest standing Independent member of Congress, has represented Vermont in the US Senate since 2007. In his 3rd term in the Senate, he is currently the Chairman of the Senate Budget Committee, and a high-ranking member of the Senate Health, Education, Labor, and Pensions Committee, among other Senate committee assignments.