Small Business

Congressman Zeldin Votes in Favor of the Encouraging Employee Ownership Act
Lee Zeldin (R-NY, 1st)
April 4, 2017
Congressman Lee Zeldin (R, NY-1), member of the House Financial Services Committee, spoke on the House floor today in support of the Encouraging Employee Ownership Act of 2017 (H.R. 1343), introduced by Congressman Randy Hultgren (R, IL-14). This legislation would reform the outdated Security and Exchange Commission (SEC) Rule 701, which imposes a slew of complicated regulations on small businesses, especially newly formed start-ups. Reform of this rule would encourage small businesses to grow and expand, creating jobs and growing the economy, and give employees the opportunity for ownership through equity in the businesses they are working for. The Encouraging Employee Ownership Act passed the House today by a vote of 331 to 87.
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Westerman Stands with Employees, Small Business
Bruce Westerman (R AR, 4th)
April 4, 2017
“Finding and keeping good employees is tough in today’s economy,” Westerman said. “Government red tape should not get in the way of small businesses trying to keep the best and brightest talent. That is why I voted for H.R. 1343, the Encouraging Employee Ownership Act of 2017. This bill increases the threshold for private companies offering their own securities as compensation. If companies are to thrive, they must not only attract but keep top talent. This bill will help companies does that and gives employees a stake in the businesses where they work.”
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