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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
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-- DC76544 --
0000 03/04/2014 18:17:00 EDT http://www.prnewswire.com
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