• WASHINGTON ALERT | ESOPs, Employee Ownership Score Major Victories in Congress

    Congressional negotiators early this morning released the Consolidated Appropriations Act of 2023 which includes numerous top priority provisions sought by The ESOP Association on behalf of its membership. Included in the bill is a new pro-employee ownership program within the U.S. Department of Labor including more than $50 million in funding over five years, a requirement to provide formal guidance on the valuation of company shares to be bought by an ESOP, an expansion of the 1042 tax benefit to S-corporations, and others.