CBO Update - Key Congressional Players
March 13, 2007

We previously discussed the Congressional Budget Office (CBO) proposed budget cut, Option 19 – End the Preferential Treatment of Dividends Paid on Stock Held in Employee Stock Ownership Plans, in the following posts:

The Congressional Budget Office Recommends Repealing 404(k)

Update on Proposal to Repeal 404(k) - Letter to the CBO

The Employee-Owned S Corporations of America (ESCA) website also addressed the subject in this update. The update discusses the fact that House Ways and Means Committee Chairman Charlie Rangel (D-NY) says that he supports employee ownership and is willing to communicate the benefits to House Education and Labor Chairman George Miller (D-CA), who has questioned S ESOPs in the past and has a great deal of influence with policy decisions.