S. 1788: Worker Owned Wealth Act

115th Congress · introduced 2017-09-11 · Taxation · Latest: Read twice and referred to the Committee on Finance.

federal

Follow this bill, step by step

Where it came from: introduced 2017-09-11 · official record
Who proposed it: Sen. Baldwin, Tammy [D-WI] · what a sponsor is
What happened next: no floor votes in our records yet. Why?
Where it stands now: Read twice and referred to the Committee on Finance. Not final yet: this can still change. We check for updates every day.
If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.

What does this mean?

Official title

Worker Owned Wealth Act

Plain summary

Worker Owned Wealth Act This bill establishes a loan program and tax incentives to assist employee stock ownership plans (ESOPs). The Department of the Treasury must establish in each field office an Employer Ownership Revolving Loan Fund to make: (1) low-interest loans to business owners seeking to establish employee ownership in the business, and (2) loan guarantees to private lenders who make loans to ESOPs. The bill amends the Internal Revenue Code to exclude from gross income a limited amount of the interest received from loans to a corporation or an ESOP to acquire or transfer employer securities for an ESOP that meets specified requirements. The bill also imposes a 10% tax on a disposition of certain employer securities by an ESOP: (1) within three years of the acquisition of the securities, subject to specified conditions; or (2) if the securities or the proceeds from the disposition have not been allocated to participants or their beneficiaries. The bill modifies the limitation on the deductibility of executive compensation of publicly held corporations to: (1) require a corporation that uses the performance-based compensation exception to be at least 5% employee-owned under an employee stock program, and (2) modify the definition of "publicly held corporation." The bill establishes within the National Economic Council the Office of Employee Ownership and Worker Empowerment to provide educational and technical assistance, raise awareness, and report to Congress regarding employee ownership in companies.

Congressional Research Service summary (Introduced in Senate), quoted unchanged (nonpartisan). Read the source.

What a vote does

A “Yea” vote

If it passes both chambers and is signed, it becomes law.

A “Nay” vote

If it is not passed, current law stays as it is.

PSI Sci description of the legislative step (not an opinion).

What does this mean? (plain words)

Official text

Worker Owned Wealth Act

Source: Congressional Research Service summary (Introduced in Senate)

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The strongest published arguments

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Alternatives

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How did my representative vote? · This bill's floor votes

Officials and money

Sponsor: Sen. Baldwin, Tammy [D-WI] · 1 cosponsors

Cost estimate: No cost estimate published yet.

Cosponsors on this site

Kirsten E. Gillibrand (D-NY)

Sponsor's campaign money: Sen. Baldwin, Tammy [D-WI] reported raising $3.5 million (2025–2026). Details. Shown for context only; it does not mean any donor supported this bill.

No linked floor roll calls in our collected records yet. This does not mean the bill has never had a vote. Check the official bill history.

Words on this page, explained (2)

Bill: A proposed law. It becomes law only if it passes the legislature and is signed by the president or governor (or a veto is overridden).
Securities: Financial investments that can be bought and sold, such as stocks and bonds.

Plain meanings written from linked sources. All words.

Sources

Congressional Research Service summary (Introduced in Senate)
Congress.gov
Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-115s1788.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/115/s>

Record fed-us-cong115-s1788 · catalog fed-us-congress-bills-cong115 · updated 2026-11-15 by psicol fed-bills-cong115