Encouraging Employee Ownership Act of 2017

Bill 115 hr 1343, also known as the Encouraging Employee Ownership Act of 2017, is a piece of legislation introduced in the US Congress. The main purpose of this bill is to encourage the formation and growth of employee-owned businesses by providing certain tax incentives.

The bill aims to make it easier for employees to become owners of the companies they work for by allowing them to defer taxes on the gains from the sale of stock to an employee stock ownership plan (ESOP) or a worker-owned cooperative. This would help to promote employee ownership and give workers a greater stake in the success of their companies.

Additionally, the bill seeks to expand access to capital for employee-owned businesses by allowing them to access Small Business Administration (SBA) loans and other forms of financing. This would help these businesses to grow and create more jobs, benefiting both the employees and the economy as a whole. Overall, the Encouraging Employee Ownership Act of 2017 is aimed at promoting employee ownership as a way to empower workers, promote economic growth, and create a more equitable distribution of wealth. It is a bipartisan effort to support the growth of employee-owned businesses and provide opportunities for workers to share in the success of the companies they work for.