Bipartisan legislation has been introduced to make the creation of ESOPs more available to small businesses.
Rep. Ron Kind, D-Wisconsin, and Rep. Dave Reichert, R-Washington, both members of the House Ways and Means Committee, introduced the Promotion and Expansion of Private Employee Ownership Act.
The law would expand financing opportunities through tax incentives for S corporations looking to pass ownership of private companies on to employees, and provide technical assistance for setting up the plans, among other things.
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Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
