Sanders Bills Would Boost Worker-Owned Businesses

Under one bill in Sanders’ package, the U.S. Department of Labor would provide funding to states to establish and expand employee ownership centers. These centers would provide training and technical support for programs promoting employee ownership and participation throughout the country. This legislation is modeled on the success of the Vermont Employee Ownership Center which has done an excellent job in educating workers, retiring business owners, and others about the benefits of worker ownership.

A second bill would create a U.S. Employee Ownership Bank to provide loans to help workers purchase businesses through an employee stock ownership plan or a worker-owned cooperative.

Both measures are cosponsored by Sens. Patrick Leahy (D-Vt.), Sherrod Brown (D-Ohio), Richard Blumenthal (D-Conn.) and Daniel Akaka (D-Hawaii.).

Read the full press release.