Polis champions cooperatives, introduces resolution

Press Release

Today, during National Co-op Month, Rep. Jared Polis, D-Colo., introduced a resolution commending the cooperative business model - along with Rep. Mark Pocan, D-Wis., and Rep. Chellie Pingree, D-Maine.

"Our democracy can only thrive when hard working Americans thrive. Co-ops, including employee-owned businesses and customer-owned businesses, are one way we can ensure more people have a fair shot at the American Dream while increasing overall productivity," said Polis. "These types of business models help us address income inequality and inefficiency head-on. For far too long, only CEOs and investors have cashed in on profits, leaving hard working Americans in the dust. Whether it's an agricultural co-op, your credit union, or a small employee owned company, I am proud to celebrate the co-op movement."

Co-ops provide an opportunity to address inequality by putting the benefit of workers and member-owners before investors. Co-ops provide members with an opportunity to participate in the management of a business that translates to higher wages.

There are approximately 86 cooperatives in Polis's district covering a variety of industries: solar power technology, financial services, preschools, groceries, housing, and bicycle sales and repair.

The resolution reads, in part: "Whereas, it was found that 30,000 U.S. cooperatives operate at 73,000 places of business throughout the United States, that these cooperatives own $3 trillion worth of assets in the U.S. economy, provide more than $25 billion in wages, account for nearly $654 billion in revenue, employ 2 million people, and account for more than 350 million memberships nationwide."

Earlier this year, Polis introduced the Worker Ownership Readiness and Knowledge Act (WORK Act) with Sens. Bernie Sanders, D-Vt., and Kirsten Gillibrand, D-N.Y., to increase employee-ownership opportunities. The bill creates a grant program within the Department of Labor to increase employee ownership through technical assistance and education. The Employee Ownership and Participation Initiative grants could be used for education and outreach; participation training; technical assistance, like feasibility studies; and activities facilitating cooperation between employee ownership firms.

Polis is one of the leading voices in Congress in favor of strengthening employee-ownership, and he is a member of the Congressional Cooperative Business Caucus. In addition, he is a leading advocate for making the tax code fairer for employee stock ownership plans and worker cooperatives.

Before serving in Congress, Polis started his first tech company as a college student and followed it up with an electronic greeting card website and Proflowers.com.

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