Main Street Employee Ownership Act

/Tag: Main Street Employee Ownership Act

Unprecedented Political Consensus Found in Employee Ownership

Research released today by the Employee Ownership Foundation (EOF) and the Rutgers School of Management and Labor Relations at The ESOP Association's 42nd National Conference in Washington, DC shows that employee owned businesses enjoy uniquely broad support among Democrats, Republicans, and Independents. Nearly three-fourths of respondents (72 percent) to the General Social Survey would rather work for an

Support for Employee Ownership Climbs Nationally

Last year’s Main Street Employee Ownership Act, which authorized firms seeking to convert to employee ownership to access Small Business Administration partially-guaranteed loans of up to $5 million, was the first pro-employee ownership law passed by Congress in more than two decades. But, according to Rachel Cohen of the Intercept, the law may presage a larger wave

Could Expanding Employee Ownership Be The Next Big Economy Policy?

TWO LIKELY DEMOCRATIC presidential contenders in 2020 have made quiet strides in recent years to bring into vogue a little-known policy that could reduce economic inequality — one that harnesses current law to expand workers’ ability to become owners in their place of employment. Sens. Bernie Sanders, I-Vt., and Kirsten Gillibrand, D-N.Y., have worked to advance legislation

What a ‘silver tsunami’ of retiring Baby Boomer business owners could mean for their workers

As Labor Day arrives -- and economic inequality rises on the political agenda -- a little noticed measure in the recently signed defense spending bill aims to address the widening wealth divide between workers and the owners or top executives who manage them. The measure, co-sponsored by Sen. Kirsten Gillibrand (D-N.Y.), is intended to expand financing options

Will New US Law Ease Employee Stock Ownership Plans (ESOPs)?

The United States has officially passed a law that strives to make it easier for small and midsize businesses to transition ownership to their employees. The law involves Employee Stock Ownership Plans (ESOPs). The Act provides no extra funding for ESOP projects, but it does fast-track how loans are dispersed for those making the transition

Gillibrand bill would encourage more employee-owned businesses

Sen. Kirsten Gillibrand (D-NY) is pushing for legislation that would provide more access to funding for employee-owned businesses. Gillibrand said there is an urgency to create more opportunities for retiring baby boomer business owners. In 2007, Peter Rhodes wanted to sell his company, Syracuse Label and Surround Printing. His family was not interested in it