As part of our political engagement strategy, The ESOP Association has maintained a federally registered Political Action Committee for more than three decades. The ESOP PAC is a tool where our membership and the larger Employee Ownership Community can pool together small contributions from thousands of donors into larger donations. These donations are made only to support the campaigns of officials who promote the Employee Ownership agenda.
Founded in 1988, ESOP PAC is the oldest political entity specifically charged with supporting pro-employee ownership elected officials. A completely non-partisan organization, ESOP PAC is rare in that it can demonstrate a decades long history of supporting qualified candidates from all political parties (Republican, Democratic, and Independent), regardless of which party held the majority. During that time, ESOP PAC has raised and spent millions to help re-elect our strongest ESOP Champions.
ESOP PAC applies specific criteria in order for a candidate to qualify for support from our membership. Some of those criteria include:
- Evidence of support for Employee Ownership and ESOPs.
- This includes sponsoring or co-sponsoring a pro-ESOP proposal; responding to our employee owner voter guide questionnaire in a positive manner; speaking on the public record in support of current law benefitting ESOPs; voting and speaking in Committee or on the floor against proposals the Association opposes; advocating to Executive Branch agencies for regulatory improvements or clarifications sought by The ESOP Association; or, offering an amendment in Committee or on the floor of Congress for a proposal supported by the Association.
- A member of the Congressional committees with jurisdiction over the specific laws governing ESOPs—primarily the tax committees of Congress—the House Committee on Ways and Means, and the Senate Committee on Finance.
- A member of the Congressional committees with jurisdiction over the special laws governing ESOPs that are enforced by the Department of Labor.
- Electability. Meaning, we are careful stewards of our member resources, and take into consideration the myriad of issues that could impact any particular election.
The ESOP PAC maintains a policy of transparency. We therefore publicly disclose all contributions made by the PAC as well as those who contribute resources to the PAC.
If you would like to learn more, please contact James Bonham, ESOP PAC Treasurer, at email@example.com or by phoning (202) 293-2971.
Authorize ESOP PAC to Solicit Your Employees
Federal election law requires companies to “authorize” the PAC for each year before TEA can share details about the PAC or solicit contributions. If you are interested in authorizing ESOP PAC please email ESOPPAC@esopassociation.org.
ESOP PAC is the federal political action committee of The ESOP Association registered with the Federal Election Commission and makes contributions to candidates for federal office. Contributions to ESOP PAC are not tax deductible for federal income tax purposes. All contributions to ESOP PAC are voluntary. You may refuse to contribute without reprisal. The guidelines mentioned are merely suggestions. You are free to contribute more or less than the guidelines suggest (within legal limits) and ESOP PAC will not favor or disadvantage you by reason of your contribution or your decision not to contribute. Federal law requires us to use our best efforts to collect and report the name, mailing address, occupation and name of employer of individuals whose contributions exceed $200 in a calendar year.