Biden Appointee Urges Office of Employee Ownership in New Administration

In a new report, Why Aren’t There More ESOPs: Assessing Barriers to ESOP Creation, Jared Bernstein, one of the three people Joe Biden has appointed to the Council of Economic Advisers, urged the new administration to “set up a government office, housed perhaps in the Small Business Administration (SBA) or the Commerce Department, that provides direct assistance to small businesses that want to set up ESOPs or other shared ownership plans.” Biden also announced that he would nominate Isabel Guzman, now head of the California Office of the Small Business Advocate, to head the SBA