Employee Ownership Representation Act of 2025
Sponsored By: Senator Cassidy, Bill [R-LA]
Passed Senate
Summary
Strengthens federal support for employee ownership. This bill would add employee-ownership voices to existing pension advisory structures, create a new Office of Employee Ownership at the Department of Labor, and set up an Advocate and a dedicated advisory council to promote and coordinate ESOPs and worker cooperatives.
Show full summary
- Workers: Workers would get more direct voice and help. The ERISA Advisory Council would include two representatives of employee ownership organizations and the new advisory council must include four employee representatives.
- Employers and ESOP providers: ESOP sponsors and providers gain a formal liaison and dispute help. The bill creates an Advocate paid at Executive Schedule level V to assist sponsors, promote employee ownership, and recommend policy changes.
- Department of Labor and coordination: The Department would establish an Office of Employee Ownership within 90 days to run the Employee Ownership Initiative, appoint a Director, staff the new advisory council, request data from other agencies, and produce annual reports. The law also authorizes appropriations as necessary to carry out the Advocate's duties.
Your PRIA Score
Personalized for You
How does this bill affect your finances?
Sign up for a PRIA Policy Scan to see your personalized alignment score for this bill and every other piece of legislation we track. We analyze your financial profile against policy provisions to show you exactly what matters to your wallet.
Bill Overview
Analyzed Economic Effects
3 provisions identified: 3 benefits, 0 costs, 0 mixed.
More employee-ownership seats on pension council
If enacted, the bill would increase the Advisory Council on Employee Welfare and Pension Benefit Plans from 15 members to 17 members. It would change a referenced numeric count from eight to ten and require two of the members to be representatives of employee ownership organizations. The Secretary of Labor would have to nominate those first two representatives within one year after enactment.
New advisory council for employee ownership
If enacted, the Secretary of Labor would create a seven-member Advisory Council on Employee Ownership. Four members would represent employees. Other seats would represent companies with ESOPs or eligible cooperatives, ESOP providers, and ESOP associations. Members would serve two-year terms, meet at least four times each year, and send an annual report to the Secretary. Members would be paid the daily equivalent of Executive Schedule level IV for days they work and receive travel pay.
New employee ownership office and advocate
If enacted, the Department of Labor would set up an Office of Employee Ownership within 90 days and the Secretary would name a Director to run it. The Director would carry out the Employee Ownership Initiative in SECURE 2.0. The bill would also create an Advocate for Employee Ownership on enactment, paid at Executive Schedule level V. The Advocate would do outreach, public education, dispute help, coordination with other agencies, and recommend ways to expand employee ownership. The Advocate must give a public annual report by December 31 each year starting after enactment. Congress may provide funds needed to pay the Advocate.
Sponsors & CoSponsors
Sponsor
Cassidy, Bill [R-LA]
LA • R
Cosponsors
Sen. Hassan, Margaret Wood [D-NH]
NH • D
Sponsored 7/29/2025
John Hickenlooper
CO • D
Sponsored 7/29/2025
Roll Call Votes
No roll call votes available for this bill.
View on Congress.gov