Congressman Dan Rohrabacher (R-CA) has introduced H.R. 6419, which would exclude employer stock received as part of a qualifying distribution from a defined contribution plan and then held for at least 10 years.
Based on data from Forbes, the country’s 679 billionaires saw their wealth increase by $1.3 trillion since the official start of the pandemic in March 2020.
In 2022, the National Defense Authorization Act created the first-ever government contracting program to specifically encourage ESOPs. Section 874 of the new law created a Department of Defense (DoD) pilo
Identical bills introduced in the House and Senate on July 12 would make stock options more attractive to employees in privately held companies by increasing the flexibility of the time they must pay taxes on those options.
Senators Gary Peters (D-MI) and Joni Ernst (R-IA) have introduced S. 4623, the AGILE Procurement Act of 2022, which includes a provision to extend the pilot program established in the National Defense Authorization Act that allows 100% ESOP-owned companies to qualify for sole-source follow-on contracting with the Department of Defense.
The Work Act, which would create a major federal program to provide funding and support for state-level outreach and technical assistance for employee ownership, has been incorporated in the proposed RISE and SHINE Act.
