Take Action

There are many ways for our ESCA members to take tangible steps toward protecting and promoting S ESOPs - two of which are hosting a district visit and joining our grassroots letter campaign. District Visits provide an opportunity for Members of Congress to meet virtually or visit company locations and meet employee-owners in person. Our grassroots letter campaign offers an easy and effective advocacy tool for constituents to send their Members of Congress a letter to thank them for their support of The Promotion and Expansion of Private Employee Ownership Act.

Legislation

In the 118th Congress, the Promotion and Expansion of Private Employee Ownership Act was introduced in the Senate by Senators Ben Cardin (D-MD) and Steve Daines (R-MT) as S. 2515 and in the House by Representatives Mike Kelly (R-PA) and Earl Blumenauer (D-OR) as H.R. 4896. This legislation will help more Americans gain retirement savings and security through private employee ownership. Specifically, the bill seeks to:

  • Incentivize owners of S corporations to sell their stock to an ESOP
  • Provide needed technical assistance for companies that may be interested in forming an S ESOP
  • Level the playing field between S and C ESOPs
  • Ensure small businesses that become ESOPs retain their SBA certification
  • Affirm the importance of preserving the S ESOP structure in the Internal Revenue Code
  • Create an Advocate for Employee Ownership at the U.S. Department of Labor

Cosponsors for the Senate bill (S. 2515) in the 118th Congress:

Democrats

Sen. Ben Cardin (D-MD) – Lead
Sen. Debbie Stabenow (D-MI)
Sen. Sherrod Brown (D-OH)
Sen. Cory Booker (D-NJ)
Sen. Amy Klobuchar (D-MN)
Sen. Jon Tester (D-MT)
Sen. Chris Van Hollen (D-MD)
Sen. Jack Reed (D-RI)
Sen. Tina Smith (D-MN)
Sen. Peter Welch (D-VT)
Sen. Sheldon Whitehouse (D-RI)
Sen. Maria Cantwell (D-WA)
Sen. Jeanne Shaheen (D-NH)
Sen. Gary Peters (D-MI)
Sen. Bob Casey (D-PA)
Sen. John Fetterman (D-PA)
Sen. Chris Coons (D-DE)
Sen. Mazie Hirono (D-HI)
Sen. Maggie Hassan (D-NH)
Sen. Tammy Baldwin (D-WI)

Independents

Sen. Angus King (I-ME)
Sen. Bernie Sanders (I-VT)

Republicans

Sen. Steve Daines (R-MT) – Lead
Sen. Mike Crapo (R-ID)
Sen. Susan Collins (R-ME)
Sen. James Risch (R-ID)
Sen. Jerry Moran (R-KS)
Sen. Chuck Grassley (R-IA)
Sen. John Barrasso (R-WY)
Sen. Todd Young (R-IN)
Sen. Marsha Blackburn (R-TN)
Sen. Bill Cassidy (R-LA)
Sen. John Thune (R-SD)
Sen. Thom Tillis (R-NC)
Sen. Mike Braun (R-IN)
Sen. Rick Scott (R-FL)
Sen. Eric Schmitt (R-MO)
Sen. John Boozman (R-AR)
Sen. Pete Ricketts (R-NE)
Sen. John Kennedy (R-LA)
Sen. Deb Fischer (R-NE)

Cosponsors for the House bill (H.R. 4896) in the 118th Congress:

Republicans

Rep. Mike Kelly (R-PA-16) – Lead
Rep. Ron Estes (R-KS-4)
Rep. Brad Wenstrup (R-OH-2)
Rep. Carol Miller (R-WV-3)
Rep. Blake Moore (R-UT-1)
Rep. Claudia Tenney (R-NY-24)
Rep. David Rouzer (R-NC-7)
Rep. Jerry Carl (R-AL-1)
Rep. Scott Fitzgerald (R-WI-5)
Rep. Mark Alford (R-MO-4)
Rep. Larry Bucshon (R-IN-8)
Rep. Glenn Grothman (R-WI-6)
Rep. Glenn Thompson (R-PA-15)
Rep. Brian Fitzpatrick (R-PA-1)
Rep. Bryan Steil (R-WI-1)
Rep. Mike Flood (R-NE-1)
Rep. Sam Graves (R-MO-6)
Rep. Lloyd Smucker (R-PA-11)
Rep. Darin LaHood (R-IL-16)
Rep. Young Kim (R-CA-40)
Rep. Jake LaTurner (R-KS-2)
Rep. Dusty Johnson (R-SD-AL)
Rep. Don Bacon (R-NE-2)
Rep. John Moolenaar (R-MI-2)

Democrats

Rep. Earl Blumenauer (D-OR-3) – Lead
Rep. Bill Pascrell (D-NJ-9)
Rep. Danny Davis (D-IL-7)
Rep. Terri Sewell (D-AL-7)
Rep. Brendan Boyle (D-PA-2)
Rep. Angie Craig (D-MN-2)
Rep. Susan Wild (D-PA-7)
Rep. Sharice Davids (D-KS-3)
Rep. Ro Khanna (D-CA-17)
Rep. Suzanne Bonamici (D-OR-1)
Rep. Brittany Pettersen (D-CO-7)
Rep. Janice Schakowsky (D-IL-9)
Rep. Dan Kildee (D-MI-8)
Rep. Dutch Ruppersberger (D-MD-2)
Rep. Julia Brownley (D-CA-26)
Rep. Dean Phillips (D-MN-3)
Rep. Linda Sanchez (D-CA-38)
Rep. Robin Kelly (D-IL-2)
Rep. Marc Veasey (D-TX-33)
Rep. Dwight Evans (D-PA-3)
Rep. Yadira Caraveo (D-CO-8)