ESOP ADVOCACY VICTORIES TIMELINE
Top Advocacy Issues
Employee Owned companies face many of the same challenges as conventional companies when government and business intersect. However, because of the unique laws that were written to allow the creation of Employee Stock Ownership Plans (ESOPs) and the incentives Congress and state governments have put in place to encourage employee ownership, The ESOP Association serves as an indispensable advocacy voice protecting and advancing the interests of over 14 million employee owners, their families, and their companies.
The issues facing ESOPS in any given year can vary, but currently, our Association is pursuing two main federal initiatives while assisting our Chapters and member companies at the state level. >
ESOP Testimony to the committee of small business
On February 12th, 2020, Daniel Goldstein, President & CEO of Folience, and Board of Governors Member of The ESOP Association, provided his testimony during the hearing of the House Committee on Small Business. Mr. Goldstein's testimony on behalf of employee owners is available here on The ESOP Association website.
Our ESOP Champions in Congress
Employee ownership and ESOPs hold one of the highest levels of truly bi-partisan support of any issue imaginable before the U.S. Congress. As of December 2019, 147 current members of the U.S. House of Representatives (68 Democrats and 79 Republicans), and 55 U.S. Senators (23 Democrats, 33 Republicans, and one Independent) had taken documented action to support ESOPs.
Among American voters, ESOPs and employee ownership are so popular that there is more agreement for employee ownership among Americans than apple pie! As a matter of public policy, ESOPs enjoy this tremendous support because they provide excellent job and local economic stability; they create wealth for average employees and help them build their retirement security; they foster a collaborative and highly successful workplace environment; and they are a proven model for highly successful business ownership that customers, clients, and potential employees seek.
Look for your representatives in this list. If you don’t find them, use The ESOP Association’s advocacy tools to encourage them to support our top initiatives.
Which Organizations Support Employee Ownership
The ESOP Association partners with many groups to advance our public policy agenda or defend the policies already in place. There are also many independent academic institutions, researchers, and think tanks that have conducted research that widely validates the public interest in the promotion of employee ownership.
Organizations on the left, right, and center have all found reasons to support employee ownership and have published reports or spoken out about the need for Congress and federal agencies to support employee ownership and to issue clear regulatory guidance to make it easier for employee owned businesses to succeed.
Political Action and ESOP PAC
As the only 501(c)(6) organization advocating for all ESOPs, The ESOP Association maintains an active political arm, including a Political Action Committee, or PAC, to support our ESOP Champions and to educate our membership about those who are ESOP Champions in Congress. The guiding principles of our political program are as follows:
We are completely blind to political party affiliation.
We support only those officials who have a demonstrated record of supporting employee ownership.
The main purpose of our political engagement should be to educate political candidates about the benefits of employee ownership while also educating our members about candidates for office who are champions of our policy agenda.