Employees are expected to get back more of what they put into their businesses thanks to a bill that recently sailed through the U.S. House of Representatives.
The Encouraging Employee Ownership Act (EEOA), introduced by Rep. Randy Hultgren (R-IL), passed by a 331-87 vote, gaining bipartisan support along the way. The measure, officially known as H.R. 1343, is meant to remove bureaucratic hurdles and make it easier for employees to gain ownership in the companies they work for.
The bill was cosponsored by Reps. John Delaney (D-MD), Brian Higgins (D-NY), Tom MacArthur (R-NJ), Kyrsten Sinema (D-AZ) and Steve Stivers (R-OH).
During House debate, Hultgren argued for the benefits of employees having ownership.
"Employees who own a stake in the company they work hard for every day want to see it do well, and will do their best to make sure that business succeeds," Hultgren said. "Their sense of ownership over details large and small makes a real difference to the bottom line and, just as importantly, to the quality of life of the employers and employees. When the company succeeds, the employee succeeds."
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