Sen. Van Hollen Introduces Bipartisan Bill to Help Workers Buy the Companies Where They Work
The American Ownership and Resilience Act is currently in the early stages of the legislative process. It was recently introduced in the Senate and sent to the Committee on Finance for review. The bill is actively moving forward as it awaits further study by committee members.
The bill has strong support from both Democrats and Republicans, which is rare. However, it still needs to go through committees and compete with other spending priorities.
The Department of Commerce would need to build a new division to run this program, including licensing, examining, and overseeing ownership investment companies. This creates new roles and responsibilities for Commerce staff, funded in part by examination fees and application fees collected from licensees.
Read twice and referred to the Committee on Finance.
Sent to a congressional committee for expert review. The committee decides whether this bill moves forward.
Introduced in Senate
The bill was officially filed and given a number. It now enters the legislative queue.
No votes have been recorded for this legislation yet.
No related news coverage found for this legislation yet.
Document Type
Congressional Bill
Official Title
American Ownership and Resilience Act
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