Hultgren Applauds Passage of Bill Incorporating His Encouraging Employee Ownership Act
Washington, DC – U.S. Representative Randy Hultgren (IL-14) today applauded House passage of H.R. 5405, the Promoting Job Creation and Reducing Small Business Burdens Act, which includes his own original legislation, the Encouraging Employee Ownership Act (EEOA) of 2014. His bill makes it easier for companies to let hardworking employees have a stake in their company. H.R. 5405 was used as a vehicle to get this important piece of legislation passed.
“Encouraging employees to purchase a stake in their businesses propels them to work hard and improve the employers they work for. When their employers succeed, the employee benefits,” said Rep. Hultgren. “But ownership in a company shouldn’t be excluded to only top level executives. We should be applauding employee ownership in businesses from the board room to the shop floor. I’m pleased the EEOA was included in H.R. 5405, a bill which encourages capital formation at the small and emerging businesses in Illinois. Together, these tools help these businesses to offer ownership stakes to their employees, expand their operations and hire more workers.
“I want to thank the original cosponsors including Reps. Spencer Bachus (AL-06), Michael Fitzpatrick (PA-08), Scott Garrett (NJ-05), Robert Hurt (VA-05), Mick Mulvaney (SC-05), Dennis Ross (FL-15) and Steve Stivers (OH-15). I also want to thank my colleagues on the other side of the aisle, Rep. Jared Polis (CO-02) and Rep. John Delaney (MD-06), for their support and hard work on this bill.”
For more information on the EEOA and groups in support, click here. Rep. Hultgren is a member of the Financial Services Subcommittee on Capital Markets and Government-Sponsored Enterprises.