{"database": "press", "table": "releases", "rows": [["https://mciver.house.gov/media/press-releases/mciver-bill-passes-markup-aimed-at-improving-small-business-options", "McIver Bill Passes Markup, Aimed at Improving Small Business Options", "2025-11-18", "2025", "2025-11", "Democrat", "House", "NJ", "LaMonica McIver", "M001229", "mciver.house.gov", "mciver", "https://mciver.house.gov/media/press-releases", "scraper", "Washington, D.C. \u2013 Today, Congresswoman LaMonica McIver\u2019s (NJ-10) Improving SBA Engagement on Employee Ownership Act was marked up and passed out of committee, clearing a major hurdle and sailing out of the House Small Business Committee by unanimous vote. The bipartisan bill, which McIver introduced with Congressman Rob Bresnahan Jr. (PA-08), would create a stronger, fairer economy by ensuring the Small Business Administration fulfills its duty to support Employee Stock Ownership Plans (ESOPs) and worker cooperative business models. The bill\u2019s next stop is the House floor.\n\n\u201cEmployee ownership is one of the best ways to help people build real wealth and create a fairer economy. When employees share in ownership\u2014whether through ESOPs or cooperatives\u2014they also share in the profits and have a voice in decision making. By making ownership more accessible and expanding outreach and assistance for employee-owned businesses, my bill gives employees the chance to do more than just make ends meet, and it helps small businesses keep investing in their communities,\u201d said Rep. McIver. \u201cThis bill puts power back where it belongs: in the hands of working people. It\u2019s a step toward an economy that rewards work, not just wealth.\u201d\n\n\u201cESOPs are a proven way to help workers become true partners in the success of their businesses,\u201d said Rep. Bresnahan. \u201cWhen employees share in ownership, they share in achievement; creating workplaces where everyone is personally and financially invested. This legislation expands access to ESOPs for thousands of small businesses and millions of employees nationwide, and I appreciate Representative McIver\u2019s partnership in advancing this important effort.\u201d\n\n\u201cThe U.S. Black Chambers, Inc. applauds Congresswoman McIver\u2019s leadership in advancing legislation that expands ownership, access to capital, and pathways to generational wealth for America\u2019s small business community. For far too long, Black entrepreneurs have been locked out of the full promise of ownership\u2014not because of a lack of vision or talent, but because of inequitable systems,\u201d said Talisha Bekavac, Executive Vice President and Head of Public and External Affairs, U.S. Black Chambers, Inc. (USBC). \u201cThis bill takes meaningful steps toward closing that gap by ensuring more inclusive opportunities for business succession, employee ownership, and community investment. When Black businesses thrive, America\u2019s economy grows stronger, more innovative, and more equitable for everyone.\u201d\n\n\u201cWorker ownership is a proven tool that empowers workers and builds wealth, both for entrepreneurs and for existing business owners across industries all throughout the country,\u201d said Esteban Kelly, Executive Director of the U.S. Federation of Worker Cooperatives. \u201cThe Improving SBA Engagement on Employee Ownership Act put into action common sense structures that promote worker ownership and cooperative business models that will save jobs, grow in local communities, and ensure that federal dollars are spent efficiently. We look forward to seeing this bill pass and to working with the SBA and partners to put it into action.\"\n\n\u201cThe National Cooperative Business Association applauds the introduction of the Improving SBA Engagement on Employee Ownership Act, which will help more people benefit from the proven power of employee ownership and the cooperative business model,\u201d said Doug O\u2019Brien, President and CEO of the National Cooperative Business Association. \u201cBy improving access to capital and making technical assistance more streamlined and efficient, entrepreneurs and existing business owners will have access to the critical resources needed to save jobs and create thriving local economies. Our nation\u2019s cooperative businesses urge swift passage and stand ready to work in tandem with implementing partners.\u201d\n\n\u201cNational Cooperative Bank strongly supports the Improving SBA Engagement on Employee Ownership Act. Expanding the Small Business Administration\u2019s capacity to work with employee-owned and cooperative businesses will strengthen local economies, preserve good jobs, and promote broad-based ownership,\u201d said Casey Fannon, President and CEO, National Cooperative Bank. \u201cWe applaud this legislation that recognizes the vital role of cooperative businesses in preserving and reviving Main Street America.\u201d\n\n\u201cDecades of research have shown that employee ownership creates good jobs, strong businesses, and a meaningful pathway for wealth creation for workers. The Improving SBA Engagement on Employee Ownership Act will ensure that employee ownership is better supported and promoted as a critical vehicle for strengthening job quality and economic resiliency,\u201d said Vanessa Bransburg, Co-Executive Director, Democracy at Work Institute.\n\nSpecifically, the Improving SBA Engagement on Employee Ownership Act would:\n\nEnsure that the SBA does its job to support employee-owned businesses by requiring the agency show up, consistently and at the highest levels, in federal discussions about employee ownership and cooperative development;\n\nExpand SBA outreach\u2014especially through the SBIC program\u2014so lenders, investors, and entrepreneurs understand how to use SBA tools to finance transitions to employee ownership;\n\nRequire the SBA administrator to actively engage in work to better understand employee ownership and cooperatives;\n\nDirect the SBA to establish the Small Business Employee Ownership and Cooperatives Promotion Program to provide speedy support and technical assistance to ESOPs, cooperatives, and other employee-owned businesses.\n\nThe bill is supported by more than 70 organizations and businesses nationwide.\n\n###", 1, "2026-04-04T05:28:40Z", "2026-04-04T05:30:10Z"]], "columns": ["url", "title", "date", "year", "month", "party", "chamber", "state", "member_name", "bioguide_id", "domain", "scraper", "source", "date_source", "text", "has_text", "collected_at", "updated_at"], "primary_keys": ["url"], "primary_key_values": ["https://mciver.house.gov/media/press-releases/mciver-bill-passes-markup-aimed-at-improving-small-business-options"], "units": {}, "query_ms": 0.8211848326027393, "source": "dwillis/congress-press", "source_url": "https://github.com/dwillis/congress-press", "license": "MIT", "license_url": "https://github.com/dwillis/congress-press/blob/main/LICENSE"}