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119-s-2474119th CongressWALLET

Advocate for Employee Ownership Act

Sponsored By: Senator Hassan, Margaret Wood [D-NH]

Introduced

Summary

This bill would create an Advocate for Employee Ownership to promote and support expanded worker ownership, especially employee stock ownership plans (ESOPs). The Advocate would sit inside the Department of Labor's Employee Ownership Initiative and focus on outreach, dispute help, and policy recommendations.

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  • Workers: Would get public education, assistance with understanding employee ownership, and help resolving disputes with ESOP sponsors or fiduciaries.
  • Employers and ESOP sponsors: Would gain a designated federal liaison that would identify barriers, recommend changes, and push for improved access to capital and succession planning options.
  • Federal agencies and operations: The Advocate would coordinate outreach with agencies like the Small Business Administration and Treasury, be appointed by the Secretary of Labor without competitive service or Senior Executive Service rules, and be paid at Executive Schedule level V. The Advocate must file a public annual report by December 31 each year describing activities, requests for help, identified problems, and recommended actions.

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Bill Overview

Analyzed Economic Effects

1 provisions identified: 1 benefits, 0 costs, 0 mixed.

New federal advocate for employee ownership

If enacted, the bill would create an Advocate for Employee Ownership inside the Department of Labor's Employee Ownership Initiative. The Secretary of Labor would appoint the Advocate without following normal federal hiring rules. The Advocate's pay would match Executive Schedule level V and Congress would authorize such sums as necessary. The Advocate would advise Initiative leadership, connect the Department with employers, workers, ESOP sponsors, and advocates, provide public education, help resolve ESOP disputes, and recommend legislative or administrative changes including on access to capital. The Secretary would be required to seek the Advocate's input when making regulations or interpretations about employee stock ownership plans. The Advocate would send a public annual report by December 31 each year describing assistance requests, activities, problems identified, and recommendations. The bill would use the Internal Revenue Code definition of an employee stock ownership plan for this role.

Sponsors & CoSponsors

Sponsor

Hassan, Margaret Wood [D-NH]

NH • D

Cosponsors

  • Sen. Daines, Steve [R-MT]

    MT • R

    Sponsored 7/28/2025

Roll Call Votes

No roll call votes available for this bill.

View on Congress.gov
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