Rep. Tom Suozzi (D-NY) on Wednesday introduced bipartisan legislation that would give companies tax breaks for allowing their employees to own stock more easily.
The bill incentivizes corporations to distribute at least 5% of their stock to the lowest-paid 80% share of employees in exchange for a 3% cut in corporate tax rates. The purpose of the Share Holder Allocation for Rewards to Employees Plan Act is to distribute equity to employees, according to the text.
“Today, I’m introducing the SHARE Plan Act, to rebuild America’s middle class and address our growing wealth inequality,” Suozzi posted on X. “It’s bipartisan. It’s common sense and it will work!”
The New York Democrat has won support from Rep. Mike Kelly (R-PA), the chairman of the House Ways and
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