House Committee on Small Business passes the Main Street Employee Ownership Act with bipartisan support

“I am proud that our Committee came together to pass legislation to help small businesses in all sectors,” said Small Business House Committee Ranking Member Rep. Nydia M. Velázquez (D-NY). “These important reforms will help more businesses access capital, protect small firms from cyber threats, allow more employees to own a stake in businesses they work for and, overall, empower our entrepreneurs to create more jobs.”

The USFWC is pleased to support the Main Street Employee Ownership Act (HR 5236), and to see that the House Committee on Small Business passed this legislative initiative.

As we work to advance worker-owned, -managed, and -governed workplaces, we believe that this bill represents an important step toward broader awareness and use of employee ownership as an opportunity for workers and businesses owners in need of a strong succession strategy. We are encouraged by Senator Gillibrand’s ongoing commitment to small business and employee ownership and we look forward to increased interagency efforts to support this work.

Read more about the Main Street Employee Ownership Act on Nonprofit Quarterly.