The ESOP Association sent out the following press release today.
For Immediate Release: May 11, 2015
Pro-ESOP Bill, S. 1212, Introduced in Senate
May 11, 2015 (Washington, DC) – The ESOP Association expresses strong support for S. 1212, introduced on May 6, 2015 by Senator Ben Cardin (D-MD) and co-sponsored by 13 Senators.
S. 1212 would amend the Internal Revenue Code of 1986 and the Small Business Act to expand the availability of employee stock ownership plans (ESOPs) in S corporations in America. S. 1212 is the Senate companion bill to H.R. 2096 which was introduced on April 29, 2015 by Congressmen David G. Reichert (R-WA).
“Needless to say, it is extremely pleasing to see these Senate leaders, representing bi-partisanship, stand up for employee stock ownership through ESOPs. The ESOP Association notes its appreciation for these members who have joined in support of employee ownership and taken the lead to address issues that relate to increasing ownership shares among average pay Americans,” stated ESOP Association President, J. Michael Keeling. “Research proves that ESOPs are more profitable, more productive, and provide sustainable jobs. We need policies to encourage employee stock ownership, and the proposed policies in S. 1212, should address core social issues such as adequate retirement security and making sure working Americans have an ownership stake in our capitalistic system.”
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.