Buried in the Defence appropriations bill . . .

Politics
1

The Don signed a $727 defense authorization bill (I’m guessing that will be for all of fiscal year 2019 that starts October 1). Inside it is a little gem I’m sure most libs will love (and the don signed it).

It’s basically called the [Main Street Employee Ownership Act]
(https://www.congress.gov/bill/115th-congress/house-bill/5236) for the language. I’ve read the act, and I’ve searched and read up on ESOP’s. Not a bad deal from businesses and workers. Small business admin will guarantee the loans for the businesses to purchase stock, put in the ESOP. Employee’s then get a part of the ESOP — essentially ownership in the company without them putting up any money (like a normal investor).

When an employee leaves or retires (way I read it), the employee cashes in their portion of shares and gets the money.

https://www.ksl.com/article/46381419/the-government-just-made-it-easier-for-workers-to-own-a-piece-of-their-employer

https://www.congress.gov/bill/115th-congress/house-bill/5236

2

Interesting…kinda a cool process if they pass it. One of the first things I like that he has introduced. Basically, the small business admin…gives you a small business loan so you can own a piece of the company you work for. Interesting to say the least.

3

The owner put a bunch of relatives on the payroll in no-show jobs ‘‘sells’’ them a bunch of stock and gets a free loan.

Trumps cool.

4

I like it but why the hell is in a defense appropriation bill?

5

Passed and signed by Trump

6

Not sure how that would work. I think the business has to fail in some way for small biz admin to cover the loan. Stock would be worthless by then.