Dear Member of Congress:
We, a coalition of businesses and organizations, urge you to pass legislation that expands the support and opportunity for worker ownership. In the past 30 years, the connection between work and reward has frayed. One ready solution to this problem is worker ownership – which allows more Americans to share in their company’s success and build wealth over the long term. It also makes these companies more stable, keeping local businesses open for their customers, employees, and communities.
Worker ownership is a business model that can preserve many American businesses that may otherwise close as baby boomers retire, build stronger and more resilient local economies, increase wealth, and help rebuild our essential middle class. It’s a model that can work in all of our communities, and its time is now. Congress should work to advance and create parity among worker ownership models – in term of tax treatment and technical and financial support – to enable choice and spur innovation in hybrid models. Worker ownership is a smart, bipartisan idea that is good for workers, companies, and communities alike. We urge Congress to take steps to advance this American tradition.