Worker Ownership Bill Passes the Senate

Recently the Main Street Employee Ownership Act (S. 2786) was passed in the Senate. Introduced by Senator Gillibrand and 6 additional co-sponsors, this bill is the culmination of many months of hard work by ASBC staff, members, and allies. It provides funding and technical assistance to help companies transition to being worker-owned. A companion bill introduced by Representative Velazquez (NY) passed the House of Representatives in May.

As many ASBC members are demonstrating, worker ownership is not only good for employees – it is also good for business and the economy. We want to thank the ASBC community, which through our Ownership4All campaign, has helped lead the nationwide movement for worker ownership. The goal is to advance innovative hybrid ownership models for an inclusive economy in every workplace sector. In particular, 1Worker1Vote, through its executive director, co-founder, and ASBC board member Michael Peck, also Mondragon’s USA delegate, has been instrumental in coordinating grassroots organizing efforts. Other ASBC community members who have dedicated their support to this campaign include: NRS, New Belgium Brewing, Future State, EILEEN FISHER, Designing the We, Current-C Energy, Mosaic Creation, U.S. Federation of Worker Cooperative, The Honest Company, Trillium Asset Management, Rocky Mountain Employee Ownership Center, Certified Employee- Owned, SOL Economics, South Mountain Company, and Ibis Communications.

We expect these bills will be signed into law; however, our work is not yet done. We will need your continued support to pass additional legislation that creates opportunities for worker ownership.