Daines, Hassan Introduce Bill to Boost Employee Retirement Savings, Support Business Owners
U.S. SENATE – U.S. Senators Steve Daines (R-Mont.) and Maggie Hassan (D-N.H.) today introduced a bipartisan bill to encourage retirement savings and support America’s businesses. The “Promotion and Expansion of Private Employee Ownership Act” bolsters the growth of S corporations that are owned by Employee Stock Ownership Plans (S-ESOP) and eliminates barriers that businesses face in establishing a new S-ESOP or expanding the employee-ownership stake in an S corporation. “ESOPs are beneficial to both employees and business owners by expanding ownership of the economy to the middle class and making it easier for folks to invest in retirement. I’m proud to lead this