; Measure Represents Strong Bipartisan Support for S Esop Structure

Summary

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WASHINGTON, Sept. 7, 2011 /PRNewswire/ -- New legislation to spur employee-ownership of private companies was introduced late Tuesday by Senate Finance Committee Members Ben Cardin (D-MD), Pat Roberts (R-KS) and Olympia Snowe (R-ME), ranking member of the Small Business Committee.

In light of the fact that S corporation employee stock ownership plans, or "S ESOPs" are high performing businesses that create jobs, economic activity and retirement security, the bipartisan Promotion and Expansion of Private Employee Ownership Act of 2011 (S. 1512) would allow more S corporation business owners to transfer ownership to their employees and help more private companies access the resources they need to become employee owned.

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; Measure Represents Strong Bipartisan Support for S Esop Structure

"S ESOPs have proven resilient even in tough times -- hiring new workers as other firms were shrinking -- while also providing...

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