Washington, Dec. 2 -- Congressman Rick W. Allen issued the following press release:
Yesterday, President Donald J. Trump signed S. 2403, the Retire through Ownership Act, into law. Congressman Rick W. Allen (GA-12) introduced the House version of this bill last year, which would provide legal and regulatory clarity in the formation of new Employee Stock Ownership Plans (ESOPs). Congressman Allen issued the following statement upon the bill becoming public law:
"I recently visited Farmers Home Furniture headquarters in Dublin, Georgia. This innovative company transitioned to 100% employee ownership through an ESOP model in 2013. During my visit, we heard firsthand feedback that the ESOP has undeniably resulted in employee success and reten...