The U.S. Impact Investing Alliance celebrates the introduction of a bipartisan, bicameral bill that will help catalyze employee ownership across the United States.

Owning a business is a key pathway to creating wealth and economic opportunity. Employee ownership models help democratize that pathway, by empowering workers and giving them a stake in the long-term success of not only their business, but their local economies.

The American Ownership and Resilience Act (AORA) creates a new zero-subsidy investment facility through the Department of Commerce to provide financing for investment funds that support ESOPs at small and mid-size businesses. The Alliance applauds the bipartisan group of Senators and Representatives championing this proposal in Congress, and we look forward to working with their offices to promote a competitive and resilient U.S. economy.

“American small businesses are facing a silver tsunami of retirements, marking an opportunity to ensure that ownership of these businesses stays local. And investors are ready to support the transition of these businesses to employee ownership,” said Fran Seegull, President of the U.S. Impact Investing Alliance. “The U.S. Impact Investing Alliance is proud to endorse the American Ownership and Resilience Act, an innovative piece of legislation that will leverage private capital to bolster employee ownership models and create shared prosperity for entrepreneurs, small businesses and local communities.”

Read the full press release.