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ESOP Association Applauds Introduction of H.R. 2258

by Patrick Mirza | Apr 12, 2019
The introduction of H.R. 2258, a companion to S. 177 introduced earlier this year, shows continued strong, bipartisan support for ESOPs on Capitol Hill.

The ESOP Association applauds Representatives Ron Kind (D-WI-3) and Jason Smith (R-MO-8), who earlier this week introduced pro-Employee Stock Ownership Plan (ESOP) bill H.R. 2258. The measure, which seeks to encourage the formation of ESOPs, is the House companion to S. 177, which was introduced in the Senate earlier this year by Sen. Pat Roberts (R-KS).

“ESOPs are a powerful way to connect employee owners to the business and to enable them to share in the profits they help generate,” said James J. Bonham, President and CEO of The ESOP Association. “This bill will help ensure that more employees get the chance to share in the success of their business.

“I am very encouraged to see the strong bipartisan support for this bill and for S. 177 continuing the rich tradition of support for ESOPs from both sides of the aisle and in both chambers of Congress,” said Bonham.

Representatives Kind and Smith were joined in sponsoring the bill by a bipartisan group of their peers on the influential Ways and Means Committee. Those co-sponsors include: Rep. Earl Blumenauer (D-OR-3), Rep. Mike Kelly (R-PA-16), Rep. Tom Reed (R-NY-23), and Rep. Bill Pascrell (D-NJ-9).

ESOP Association members are encouraged to ask their elected officials in May—while attending The ESOP Association’s National Conference—to sponsor the House and Senate bills. New advocacy materials to aid in those efforts will be available soon on our National Conference web page.

Association members in Rep. Kind’s district are encouraged to share their appreciation for his support at his listening sessions on April 15 and 17.

Members can thank Sen. Roberts in person, after his keynote speech to the ESOP PAC Breakfast on the opening morning of the National Conference.