Statement on Today's Federal Accounting Standards Board Decision on Stock Options
Issues: Finance and Banking
Statement On Today's Federal Accounting Standards Board Decision On Stock Options
Washington, DC - U.S. Senator Barbara Boxer today issued the following statement in response to the Financial Accounting Standards Board's decision mandating the expensing of employee stock options.
Given FASB's history on stock options, I am not surprised that they ruled to expense them. However, FASB admits that it doesn't take in to account the economic impact of its decision. Therefore, I will work hard to pass the Ensign-Boxer bill which will be introduced shortly. This bill will send this whole matter to the SEC for review before the proposed rule goes into place and we are dealing with its unintended negative economic consequenses.