releases: https://paulsen.house.gov/index.cfm?sectionid=22&itemid=1852
Data license: MIT · Data source: dwillis/congress-press
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| https://paulsen.house.gov/index.cfm?sectionid=22&itemid=1852 | Paulsen-authored Bill to Empower Startup Employees Passes in the House | 2016-09-22 | 2016 | 2016-09 | Republican | House | MN | Erik Paulsen | P000594 | paulsen.house.gov | legacy | Washington, D.C.– In a bipartisan vote, the U.S. House of Representatives approved legislation authored by Congressman Erik Paulsen (MN-03) to promote employee ownership at startup companies and encourage innovation. H.R. 5719, the Empowering Employees through Stock Ownership Act, helps employees keep their ownership interests and utilize all options offered to them when taking a new and exciting job at a startup. “Startup companies are the birthplace of innovation and the next ‘big idea,’ which is why this bipartisan legislation ensures this vital part of our present and future economy can attract the best talent,” said Congressman Erik Paulsen.“By promoting employee ownership at these cutting-edge companies with a commonsense fix to our tax code, we can keep America on the forefront of innovation and entrepreneurship.” Click on the video below for Congressman Paulsen’s remarks on the bill on the U.S. House floor. At many startup companies, employees are offered stock options or equity interest as part of their compensation. Currently, if employees exercise these options, they are required to immediately pay taxes often times before they may have the available cash to do so. As a result, these rank-and-file employees cannot afford to exercise their stock options and therefore miss out on a significant financial opportunity. This is a deterrent to many that wish to join a startup company. The Empowering Employees through Stock Ownership Act will help startup companies attract and keep top talent by allowing employees to defer the taxes on their stock options until they are likely to have the funds necessary to make their tax payment. For complete text of the bill, click here. Congressman Paulsen, a champion of small business and advocate of free enterprise, entrepreneurship, and innovation, serves on the House Ways and Means Committee, the bicameral Joint Economic Committee, and is co-chair of the Congressional Medical Technology Caucus. For more information on Congressman Paulsen’s work in Congress visit paulsen.house.gov. ### | 1 | 2026-03-30T12:14:52Z | 2026-03-30T12:14:52Z |