The National Defense Authorization Act signed into law by President Biden on December 27 contains the first-ever government contracting program to specifically encourage ESOPs.
On July 28, Congress passed the pension reform bill as approved by a House-Senate conference committee. If the bill is signed by the President, employee ownership plans will be affected in a number of ways, as outlined below.
The tax cut legislation passed by Congress and about to be signed into law (H.R. 1836) has incorporated a revised version of the Comprehensive Retirement Income Security Act (S. 742, H.R. 10) as part of its income tax reduction legislation.
The Congressional Budget Office (CBO), in its annual report on budget options, lists eliminating special ESOP tax benefits as a way to save tax dollars.
An analysis by the Congressional Budget Office (CBO) of the impact of stock option expensing concludes that neither stock prices nor the economy will be significantly affected.
In its report titled Employee Stock Treatment and Tax Issues (No. RL31458), the Congressional Research Service (CRS) finds that the current tax treatment of stock options is not abusive.
Proposed legislation would allow Connecticut companies to avoid a state corporate tax surcharge if they provide at least 80% of their employees with at least 300 shares apiece for each year the surcharge applies.
Connecticut State Senator Donald Williams—the president pro tempore of the Connecticut senate—and Senator Martin Looney, both Democrats, introduced Committee Bill No.
In its new election platform, the Conservative Party in Canada joins the ruling Liberal Party in pushing for major changes in Canadian law to create an employee ownership structure similar to ESOPs in the U.S. and employee ownership trusts in the UK.
