An employee stock ownership plan (ESOP) is a type of benefit program that gives workers the chance to own stock in the companies they work for. The idea is that employee ownership better aligns shareholders' interests with workers' incentives -- since an ESOP rewards both groups for better stock performance. Senator Bernie Sanders (I-VT) wants more companies to offer these benefits, and recently introduced legislation, known as the United States Employee Ownership Bank Act, that would offer public funding to help more businesses start their own ESOP programs. The bill authorizes $500 million in new financing to create a fund within the Treasury that would do just that.
NTUF analyzed the bill's background and what it could mean for taxpayers in the latest edition of The Taxpayer's Tab. This week's edition also features:
- Most Expensive: Senator John Rockefeller (D-WV) introduced legislation that would fund research and development of carbon capture and storage technology. The Carbon Capture and Sequestration Deployment Act of 2014 offers $20 billion in guaranteed loans, and could cost taxpayers $984 million over the next five years.
- Most Friended: The Veterans Affairs scandal has renewed debate over how vets access the medical care they're promised, and Congressman Jeff Miller (R-FL) has introduced legislation that would allow them to more easily seek treatment at non-VA medical centers. The Veteran Access to Care Act of 2014 gained 158 cosponsors, and according to Congressional Budget Office estimates would cost at least $620 million over the next three years.
- Intern Spotlight: Foundation Associates Sam Jordan and Gordon Miller are featured in the latest installments of "Profiles in Liberty," which will spotlight the work our interns are doing this summer.
For more details on these bills and what else NTUF's been up to, check out The Tab online.