The 2024 Employee-Owned S Corporations of America (ESCA) Federal Policy Conference & Lobby Day was held in July in Washington, D.C. The conference began with a special tribute to U.S. Rep. Earl Blumenauer (D-OR). Former U.S. Rep. Ron Kind (D-WI) joined ESCA to honor Blumenauer for his many years of service and dedication to ESCA and S corporation employee stock ownership plans (S ESOPs). Former Congressman Kind, along with Blumenauer, introduced the first House S ESOP bill.
On Thursday morning during the conference, ESCA President and CEO Stephanie Silverman and House Minority Leader Hakeem Jeffries (D-NY), the highest-ranking Democrat in the House of Representatives, discussed the current political landscape. Jeffries remarked on the divided nation and his thoughts on the Democratic Party's aim to reclaim a slim majority in the House. He reflected on lessons from former House Speaker Nancy Pelosi about the strength in unity and the importance of maintaining calm during turbulent times. Jeffries shared his perceived confidence in America's resilience, drawing parallels with past periods of division and conflict. He concluded by addressing ESCA members, expressing gratitude for their work, and noting, “ESOPs are bringing the American dream to life in an intimate and impactful way.”
Next, Sen. John Thune (R-SD), number two in Senate Republican leadership and Finance Committee member, expressed his top priorities if he becomes the next majority leader, including national security and foreign policy. Thune noted he would focus on building and maintaining alliances to ensure the U.S. retains its leadership role. Addressing the deficit and 2025 tax policy, Thune mentioned that “the country has been through worse and survived.”
There also were visits by other members of Congress, media, and officers, including:
- Sen. Mike Crapo (R-ID)
- Rich Thau, moderator and creator of the Swing Voter Project
- Admiral James Stavridis, retired four-star officer in the U.S. Navy
Silverman gave an in-depth overview of recent events shaping the political climate and presidential election. She likened the events to 1968, when the country saw deep divisions. She discussed what the early post-Biden polls tell us and the current potential vice president candidates for Kamala Harris at the time, previewed possible shifts in Congress, and the implications of the ongoing tax policy negotiations.
Lastly, she highlighted ESCA’s progress with the administration, citing that this is the most engaged administration in ESCA’s history on employee ownership, and reminded attendees of the ways needed to continue to protect S ESOPs amid a pivotal year.
To learn more about issues affecting S ESOPs, contact a professional at Forvis Mazars.