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ESOP Advocate Now on Senate Finance Committee

by Brian Bornino

It is great to see that Senator Rob Portman (R-Ohio) has been appointed to the Senate Finance Committee.  Mr. Portman is widely regarded as a supporter of Employee Stock Ownership Plans (ESOPs) and was an architect of legislation supporting ESOP-owned S-corporations while a member of the House Ways and Means Committee.  With so much uncertainly in Washington regarding tax policy and the recent concerning direction of this Administration’s Department of Labor (addressed in my past blog “DOL Proposed Rule on ESOP Valuations is a Nightmare”), it is great to see a true ESOP supporter achieve a position with the ability to influence future ESOP-related legislation.

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