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S. 2403119th CongressLabor and Employment
Retire through Ownership Act
Sponsored by Sen. Roger Marshall (R-KS) · 1 active : 1 Democrat
Latest action: Presented to President.
Where it standsBefore the Senate10 senators score as swing votes
Passed both chambers, awaiting the President
- Senate: passedOct 9, 2025
- House: passedSep 16, 2026
- President: Awaiting action
Summary
, via Congress.govRetire through Ownership Act
This bill allows the fiduciary of an Employee Stock Ownership Plan (ESOP) to rely on a valuation provided by an independent valuation expert or business appraiser in determining the fair market value of the plan's securities if the securities are not traded on a national securities exchange (i.e., not publicly traded) and the expert or appraiser follows specified methodologies.
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In general, ESOPs are defined contribution pension plans where employees accrue shares of their employers' stock in individual accounts as part of their compensation. After separating from employment or retiring, employees receive the cash value of their shares.
Under the bill, an independent expert or appraiser must adhere to the methodology established under the Internal Revenue Service Ruling 59-60, which prescribes the factors a professional business appraiser should consider in forming a valuation of the stock for a closely held business.
How the projections held up
Each member’s recorded vote compared with their swing projection from before the vote. A member by voting against most of their own party.
House
On Motion to Suspend the Rules and PassPassed401 yea, 14 naySeptember 16, 2026 · Roll call 314
| BandBand before the vote | VotedVoted yea or nay | BrokeBroke with party | Share |
|---|---|---|---|
| Swing | 47 | 0 | 0% |
| Middle | 231 | 6 | 3% |
| Entrenched | 132 | 8 | 6% |
Committees and subjects
Committees
- Senate Committee on Health, Education, Labor, and Pensions · SenateReported by · Markup by · Referred to
Subjects
- Employee benefits and pensions
- Financial services and investments
- Securities
Model
Directional: count only breaks toward the other partyWhy do scores change?v3default (selected)v2 model swing-v2
How the Senate breaks down
- 10Swing 70–100
- 65Middle 30–70
- 25Entrenched 0–30
Members fall into . All 100 senators have enough data to score.
Key players in the Senate
Ranked by swing score, 0–100 · swing-v3, directional: only movement toward the other party counts, so members who sit further from the center than their party no longer score as swing votes.
Bars show each input from 0 to 100: ideology gap, scorecard gap, , and the . is the seat’s partisan lean, and shows how much of the input data a score has.
Similar past votes, Senate
Earlier behind swing-v3’s inputLoading similar votes
Cosponsors
1 activeShow all 1 cosponsors
- Tim Kaine (D-VA)
How the swing score works
Ideology gapHow far a member’s DW-NOMINATE voting score sits from their party’s median in the same chamber.
Scorecard gapHow far their Heritage Action and LCV ratings stray from their party’s average, using the groups’ votes on similar bills where available.
Cross-pressureHow strongly their district or state leans toward the other party, from our own computed partisan lean.
Similar votesHow often they voted against their own party on earlier roll calls about this bill or similar ones.
Committee bonusMembers of the committees handling the bill decide whether it moves, so they get a boost.
Cosponsor checkThe sponsor and active cosponsors have already committed, so they drop toward entrenched.
