The ESOP Association sent out the following release today.
For Immediate Release: February 4, 2015
The ESOP Association Submits Comments to the House Ways and Means Committee on Moving America Forward
February 4, 2015 (Washington, DC) – January 30, 2015, The ESOP Association submitted comments to the House Ways and Means Committee regarding the state of the U.S. economy and policies that can promote job creation and economic growth. The hearing, ‘Moving America Forward: With a Focus on Economic Growth’ was held on January 13, 2015.
As noted from the statement by ESOP Association President, J. Michael Keeling: “Most relevant to the review of jobs and wealth creation for all who work is that shared ownership through the ESOP model is an excellent jobs policy. Having policies that increase the probability that people with jobs will stay employed is the most important jobs policy Congress can promote. Data indicates that during the Great Recession employee stock owned companies were four times less likely to lay off employees than conventionally-owned companies.”
He concluded, “Keeping and expanding a proven policy, more employee ownership via the ESOP model, can significantly address the questions reviewed with regard to jobs in our nation, and our nation’s economy.”
Read the full statement on The ESOP Association’s website: http://www.esopassociation.org/advocate/esop-bulletin.
The ESOP Association is the national trade association for companies with employee stock ownership plans (ESOPs) and the leading voice in America for employee ownership. The core cause of The ESOP Association is the belief that employee ownership will improve American competitiveness, increase productivity through greater employee participation, and strengthen our free enterprise economy. More information: website – www.esopassociation.org and blog – www.esopassociationblog.org.