In your recent discussion of ESOPs you quoted a consultant as saying "ESOPs . . . are where the future is coming from." As an investment banker specializing in ESOP financing, I couldn't agree with you more -- ESOPs have contributed greatly to the spirit of entrepreneurship and have brought it to the shop floor. But ESOP may be in trouble. A little-known provision in the Treasury Tax Proposal would eliminate the ESOP benefits that were enacted in 1984. Those who believe strongly in the ESOP concept, both to increase productivity and to broaden ownership, should let their legislators know of their concern.