Budget Committee Chair Jodey Arrington (R-TX) said “we need to ESOP America” during the 2025 Employee-Owned S Corporations of America (ESCA) Leadership Summit in February in Fort Lauderdale, Florida. He discussed the federal deficit at the start of the conference, which had record attendance with more than 250 S corp employee stock ownership plan (ESOP) company leaders and advisors. Arrington expressed the importance of a top-down assessment of how American tax dollars are spent and maintaining political will to stand on budget cuts.
The last day of the conference featured Jason Smith (R-MO), House Ways & Means Committee chair, who leads the House’s work on the 2025 tax bill. Smith voiced the challenges of creating a tax bill that extends the expiring tax rates and includes President Donald Trump’s campaign promises on tax cuts but also conforms with budget parameters.
There were visits by other guests, including:
- House Ways & Means Ranking Member Richard Neal (D-MA)
- Former Sen. Ben Cardin (D-MD)
- Former FBI Special Agent and Behavioral Specialist Robin Dreeke
- Karl Rove, former deputy chief of staff for President George W. Bush
Last year, ESCA member companies participated in a survey titled Executive Compensation Among ESOPs. Mary Josephs, of Verit Advisors, and Don Delves, of Willis Towers Watson, presented the survey findings of strategies and tactics that S ESOPs use to attract and retain executive talent with annual and long-term incentives. The survey found that ESOPs are more inclusive in their bonus packages and value individual performance to incentivize alignment between executive success and company success.
To learn more about issues affecting S corporation ESOPs, please reach out to a professional at Forvis Mazars.