Alexander Acosta Confirmed as Secretary of Labor

On April 27, the Senate confirmed Alexander Acosta as the new Secretary of Labor, following a 100-day vacancy. Little is known about Secretary Acosta's views on employee ownership or ESOPs, but quick action is unlikely. The DOL is hampered by a large number of vacancies in senior positions, and the full Senate calendar makes quick action unlikely. In addition, a former DOL official, John Irving, told Bloomberg BNA that Sec. Acosta is "an exceptional lawyer, he's a thoughtful guy, he's careful, he's balanced, he's reasonable."