Tom Suozzi gains bipartisan support for bill pressing companies to make employees stakeholders

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.