Promotion and Expansion of Private Employee Ownership Act of 2021 This bill expands tax incentives and federal assistance for employee stock ownership plans (ESOPs) that are sponsored by S corporations. The bill provides additional tax incentives for ESOPs by (1) extending to all domestic corporations, including S corporations, provisions allowing deferral of tax on gain from the sale of employer securities to an ESOP; and (2) allowing a tax deduction for 50% of the interest received by a bank on loans to S corporation-sponsored ESOPs for the purchase of employer securities. The Department of the Treasury must establish the S Corporation Employee Ownership Assistance Office to foster increased employee ownership of S corporations. The bill defines an ESOP business concern for purposes of the Small Business Act as a business concern that was eligible for a loan, preference, or other program under such Act before more than 49% of the business concern was acquired by an ESOP.
Sponsored bills
Unnecessary Agency Regulations Reduction Act of 2021 This bill requires the Office of Information and Regulatory Affairs to annually report a list of major rules (i.e., rules with a significant economic impact, cost to consumers, or adverse effects on competition) that it recommends should be consolidated or repealed because they are outdated, duplicative, or incur excessive compliance costs. Congress must review the list to determine, and recommend by joint resolution, any such rules to consolidate or repeal.
This resolution urges the removal of Dr. Anthony Fauci from his positions as Chief Medical Advisor and Director of the National Institute of Allergy and Infectious Diseases.
Foreign Gain-of-Function Research Prevention Act of 2021 This bill prohibits the use of federal funds to conduct or support gain-of-function research involving potential pandemic pathogens by China, Russia, Iran, North Korea, or other foreign adversaries. Gain-of-function research is any research that is anticipated to confer an attribute on a pathogen to enhance its pathogenicity or transmissibility in mammals. If the Department of State finds that an entity has used funds for prohibited research, the entity may not receive any federal funding for a period of five years.
Saving American History Act of 2021 This bill prohibits the use of federal funds by an elementary or secondary school to teach the 1619 Project or by a local educational agency (LEA) to support its teaching in public schools. (The 1619 Project is an initiative that addresses the beginning of slavery in the United States.) Specified federal agencies must reduce federal funds in a prorated amount to an elementary or secondary school that teaches this project or an LEA that supports its teaching in public schools. However, federal funding shall not be reduced for programs for low-income students (e.g., free or reduced-price lunch) or students with disabilities.
This resolution expresses support for Israel's efforts of self-determination and collective security against external forces, recognizes Jerusalem as the legitimate capital city of Israel, and condemns actions by Hamas against the people of Israel.
United States Army Rangers Veterans of World War II Congressional Gold Medal Act This bill provides for the award of a single Congressional Gold Medal to the U.S. Army Rangers Veterans of World War II in recognition of their dedicated service during World War II.
This resolution recognizes that the national debt is a threat to national security and that deficits are unsustainable, irresponsible, and dangerous. It also commits to (1) restoring regular order to the appropriations process, and (2) addressing the fiscal crisis faced by the United States.
This resolution expresses support for the designation of DIPG Awareness Day. DIPG is diffuse intrinsic pontine glioma, a terminal childhood brain cancer.
No Amnesty Act This bill prohibits federal agencies from expending funds or resources to implement, administer, or enforce certain executive actions related to immigration, including actions that (1) prioritize the removal of certain aliens, such as those suspected of engaging in terrorism; (2) revoke an earlier executive order that required heightened vetting of aliens seeking admission as refugees; and (3) direct the Assistant to the President for National Security Affairs to develop a strategy to address the root causes of migration from El Salvador, Guatemala, and Honduras. Such executive actions shall have no force or effect.