Washington, Dec. 9 -- Representative Cory Mills issued the following press release:
Congressman Cory Mills (FL-07) today introduced the Empowering
Small-Business Ownership Participation (ESOP) Act, legislation that expands access for
employee-owned businesses to compete for critical Department of War contracts.
The Department of War (DOW) recently created a pilot program intended to bring more
employee-owned small businesses into its supply chain, known as the Employee Stock
Ownership Plan (ESOP) Pilot Program. However, the program is currently unusable for
nearly all ESOP companies because it requires participating firms to be 100% employee-
owned-a threshold far above that used by the Small Business Administration's 30%
ownership...