# 119-s-2458: Employee Ownership Financing Act

119-s-2458, Employee Ownership Financing Act, is a 119th Congress bill sponsored by Sen. Sanders, Bernard [I-VT] (I-VT); status introduced; PRIA reads it as touching household money (as of 2025-12-21).

- Canonical: https://policyrisk.com/legislation/119-s-2458
- As of: 2025-12-21
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: 119-s-2458
- Congress: 119
- Title: Employee Ownership Financing Act
- Status: introduced
- Introduced: 2025-07-24
- Sponsor: Sen. Sanders, Bernard [I-VT] (I-VT)
- Cosponsors: 4
- Policy area: Labor and Employment
- Touches household money: yes
- Last recorded action: 2025-12-21

## Summary

**Federal support to expand employee ownership through a new Office and loan program.** This bill creates an Office of Employee Ownership at the Department of Labor and a loan program to help companies convert to or expand employee ownership.

## Cosponsors (4)

- Sen. Shaheen, Jeanne [D-NH] (D-NH), 2025-07-24T00:00:00.000Z
- Sen. Blumenthal, Richard [D-CT] (D-CT), 2025-07-24T00:00:00.000Z
- Sen. Gillibrand, Kirsten E. [D-NY] (D-NY), 2025-07-24T00:00:00.000Z
- Sen. Welch, Peter [D-VT] (D-VT), 2025-07-30T00:00:00.000Z

## Provisions PRIA read

- Who can get employee ownership loans: benefit, medium. If enacted, eligible borrowers would include ESOPs, eligible worker cooperatives, qualified 401(a) trusts, or entities acting for those plans. Loans must be used to create or increase employee ownership (the target is at least 51% employee ownership) or to preserve or expand jobs. Loans could carry…
- Federal loan fund for employee ownership: benefit, medium. If enacted, the bill would create an Employee Ownership Loan Program Fund in the Treasury. It would authorize $500 million for fiscal year 2026 to make loans and guarantees. Loan repayments would go back into the Fund and be available to the Director without more congressional approval. The total o…
- Employees get option to buy closing plants: benefit, low. If enacted, employers ordering a permanent plant closing would have to offer affected employees a chance to buy the plant through an ESOP or an eligible worker cooperative. The employer must pay for an independent appraisal and provide financial and legal disclosures. If employees and the employer…
- New Office to expand employee ownership: benefit, low. If enacted, the Secretary of Labor would create an Office of Employee Ownership within 90 days. The Office would hire a Director to run the new program and an Advisory Council. The Council would have seven members who meet at least four times per year and send an annual report. The Secretary would…

## Related bills

- 119-s-3990: PrEP Access and Coverage Act of 2026
- 119-s-2823: FAMILY Act
- 119-s-51: Washington, D.C. Admission Act
- 119-s-5108: Right to IVF Act of 2026
- 119-s-1503: Equality Act
- 119-s-1232: Workplace Violence Prevention for Health Care and Social Service Workers Act

## Sources
- [119-s-2458 on Congress.gov](https://www.congress.gov/bill/119th-congress/senate-bill/2458)

## Related
- [119-s-3990: PrEP Access and Coverage Act of 2026](https://policyrisk.com/legislation/119-s-3990)
- [119-s-2823: FAMILY Act](https://policyrisk.com/legislation/119-s-2823)
- [119-s-51: Washington, D.C. Admission Act](https://policyrisk.com/legislation/119-s-51)
- [119-s-5108: Right to IVF Act of 2026](https://policyrisk.com/legislation/119-s-5108)
- [119-s-1503: Equality Act](https://policyrisk.com/legislation/119-s-1503)
- [119-s-1232: Workplace Violence Prevention for Health Care and Social Service Workers Act](https://policyrisk.com/legislation/119-s-1232)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/119-s-2458 (as of 2025-12-21).