The 2023 Employee-Owned S Corporations of America (ESCA) Federal Policy Conference and Lobby Day was held in September in Washington, D.C. This conference marked the celebration of 25 years since the S ESOP tax structure was enacted by Congress. The conference began with a reception featuring Senate Finance Committee member Sen. Catherine Cortez Masto (D-NV). She shared her experiences with ESCA members in Nevada and expressed her support for S ESOPs.
There also were visits by other special guests, including:
- Sen. John Thune (R-SD)
- Mark Zandi, chief economist at Moody’s Analytics
- Gen. John Kelly, former White House chief of staff
Stephanie Silverman, ESCA president and CEO, gave an in-depth overview of changes in Washington and across the U.S. since ESCA’s February conference. She offered an overview of the dynamics that may influence the 2024 elections and how members can expect to see some emergency policymaking driven by unsustainable deficits in the future. She emphasized ESCA’s efforts to combat both domestic and foreign threats to S ESOPs, building upon its success and advocacy over the past 25 years.
During the Lobby Day, 27 teams from 42 states visited congressional offices. A record-breaking number of more than 160 meetings were held over two days. As a result of those meetings, new co-sponsors were added to the Promotion and Expansion of Private Employee Ownership Act (H.R. 4896 in the House; S. 2525 in the Senate). Co-sponsors included Sen. Thom Tillis (R-NC), Sen. Mike Braun (R-IN), Sen. Sheldon Whitehouse (D-RI), Sen. Maria Cantwell (D-WA), Sen. Jeanne Shaheen (D-NH), Rep. Brendan Boyle (D-PA), Rep. Angie Craig (D-MN), Rep. Susan Wild (D-PA), Rep. Claudia Tenney (R-NY), Rep. David Rouzer (R-NC), Rep. Jerry Carl (R-AL), Rep. Scott Fitzgerald (R-WI), and Rep. Mark Alford (R-MO).
To learn more about issues affecting S ESOPs, please reach out to a professional at Forvis Mazars.