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Administration Again Takes Aim at Employee Ownership, Says The ESOP Association


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[STK]

[IN] WRK

[SU] AVO POL LBR ECO

TO LABOR, AND NATIONAL EDITORS:

Administration Again Takes Aim at Employee Ownership, Says The ESOP

Association

WASHINGTON, March 4, 2014 /PRNewswire-USNewswire/ -- Today, The ESOP

Association expressed disappointment once more over a provision in the

President's Fiscal Year 2015 budget that pertains to employee stock

ownership plans (ESOPs). Included in the budget document is a

provision to 'eliminate the deduction for dividends on stock of

publicly-traded corporations held in certain ESOPs.'

"Obviously, we are disappointed this provision has been included in

the President's budget," said ESOP Association President, J. Michael

Keeling. "We are baffled by the Administration. How can the

Administration preach about creating jobs and then plan to take away a

proven policy that sustains jobs? Furthermore, the provision the

Administration wants to kill was added in 1984 by Congress to address

income inequality by encouraging employee owners to have more income

from ownership. It is counter-intuitive. As we've said before,

research proves that ESOPs, and companies with other forms of employee

stock ownership, provide more sustainable employment. The

Administration needs to step up and encourage broad-based inclusive

capitalism and increase employee ownership to ensure sustainable

employment for U.S. workers, and more income for average pay employee

owners, not decrease support."

The ESOP Association is the national trade association for companies

with employee stock ownership plans (ESOPs) and the leading voice in

America for employee ownership. The core cause of The ESOP Association

is the belief that employee ownership will improve American

competitiveness, increase productivity through greater employee

participation, and strengthen our free enterprise economy. More

information: website - www.esopassociation.org and blog -

www.esopassociationblog.org.

SOURCE The ESOP Association

-0- 03/04/2014

/CONTACT: Amy Gwiazdowski, 202/293-2971, amy@esopassociation.org

/Web Site: http://www.esopassociation.org

CO: The ESOP Association

ST: District of Columbia

IN: WRK

SU: AVO POL LBR ECO

PRN

-- DC76544 --

0000 03/04/2014 18:17:00 EDT http://www.prnewswire.com

Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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