Economy

David Downey, President & CEO of the International Downtown Association, wrote the following op-ed that appeared in Roll Call:

In the wake of the COVID-19 pandemic, it is clear some things will never be the same — from the ways we socialize with one another to the way we shop to how and even where we work. The traditional workplace was already evolving before the pandemic, cities were changing, and technological advancements had enabled the widespread use of videoconferencing and streamlined collaboration.

Majority Democrats in Congress looking to bridge the wealth gap in the U.S. are considering a proposal that would let workers profit from Wall Street’s impressive gains.

The SHARE Plan Act proposed by Rep. John Larson, D-1st District, would give an incentive to companies to distribute more stock to middle- and low-wage workers by allowing shareholders to claim long-term capital gains treatment on stock sales. Shareholders would otherwise pay at higher ordinary income tax rates.