Johnson, Moore Legislation Aims to Prevent Foreign Takeovers and Closures of U.S. Businesses 

The American Ownership and Resilience Act would prevent the offshoring of American businesses, strengthen domestic supply chains, and invest in American workers

Washington, D.C. – Today, U.S. Representatives Dusty Johnson (R-S.D.), Blake Moore (R-UT), Lori Trahan (D-MA), and Bill Foster (D-IL) introduced the American Ownership and Resilience Act. The bill would expand employee ownership through Employee Stock Ownership Plans (ESOPs) and provide the financing needed to keep companies in American hands—protecting jobs, preserving communities, and countering growing efforts by foreign competitors like China to acquire strategic U.S. businesses.

“American businesses are the backbone of our economy, but many are at risk of dissolving or being sold to foreign competitors like China,” said Johnson. “The American Ownership and Resilience Act will keep these companies local, strong, and American-owned. Employee ownership is a pro-worker, pro-America solution.”

“We will soon witness the greatest transfer of assets in American history as over two million U.S. business owners near retirement in the next decade. During a period of increased global competition, ESOPs serve as a valuable option to keep businesses open and American-owned,” said Moore. “The American Ownership and Resilience Act will empower and support business owners and workers who want to transition to employee ownership, building substantial livelihoods for new employee owners and protecting our domestic supply chain from hostile foreign competitors.”

“With two decades of experience in creating employee-owned businesses, we have been blessed to enjoy a front row seat to the potential of ESOPs,” said Ted Margarit, Managing Partner of Paralign Capital Partners. “We seek to establish ESOP-investing as a credible asset class for investors seeking attractive risk adjusted returns, which in turn will enable more owners to pursue employee ownership. The American Ownership and Resilience Act will be instrumental in making this a reality, benefiting employees, their families, and communities across the country. It will bolster our economy and strategic production capacity across all industries by unlocking the enhanced efficiency and productivity enabled through the alignment of stakeholders in a company’s long-term success.”

Reflecting on the transition of his family-owned business to ESOP ownership in 2024, Scott Sletten, Chief Executive Officer of JDS Industries, said, “After over 50 years in business, it was time to chart the next chapter for JDS, its 300+ employees, and the communities in which we operate. While we had numerous options from private equity and other acquirors, JDS is at its core a family business and it only seemed fitting to empower my team to pursue the future prosperity of JDS for their benefit and the betterment of all of the communities in which we operate. However, like most business owners evaluating alternatives, our ESOP and its employee-participants lacked the necessary capital to responsibly pursue an ESOP by themselves. Fortunately, we were introduced to Paralign, who provided both advisory services and a significant, aligned investment, which was only the second of its kind, that made our ESOP possible. I expect that the American Ownership and Resilience Act will support additional investment in creating more employee-owned companies, which is a boon not only for those employees, but also our country and economy as a whole as I have already seen the enhanced productivity and alignment employee ownership fosters in our business.”

“The approaching wave of generational business succession across America poses acute risks to the vitality of our industrial base. By enabling the private sector to accelerate the growth of employee ownership, the American Ownership and Resilience Act offers a bipartisan opportunity to bolster U.S. economic security and supply chain resilience while creating an additional source of retirement wealth for American workers and families,” said Jack Moriarty, Executive Director of Lafayette Square Institute.

The American Ownership and Resilience Act would:

• Enable the private sector to finance U.S. business sales to American workers through Employee Stock Ownership Plans (ESOPs), without relying on taxpayer funds.
• Equip the Department of Commerce with a zero-subsidy investment facility to facilitate these transactions.
• Support Ownership Investment Companies (OICs)—licensed private investment funds—that will help overcome the capital access barrier currently impeding ESOP sales.

The American Ownership and Resilience Act is also cosponsored by U.S. Representatives Blake Moore (R-UT), Lori Trahan (D-MA), and Bill Foster (D-IL). U.S. Senators Todd Young (R-IN), Chris Van Hollen (D-MD), Jerry Moran (R-KS), and Tammy Baldwin (R-WI) introduced companion legislation in the Senate.

Click here for bill text.

Background:

The U.S. faces an economic shift as nearly half of all privately held businesses with employees are owned by individuals nearing retirement. These firms employ over 32 million Americans, and with more than half of owners expected to retire within the next decade, the nation risks a wave of business closures or sales—many to foreign buyers. This “silver tsunami” threatens job loss, community decline, and erosion of the U.S. industrial base.

China and other strategic competitors are actively acquiring American companies, particularly in manufacturing and technology. These transactions risk moving intellectual property, production capacity, and jobs overseas, which undermines national security and weakens domestic supply chains.

Employee Stock Ownership Plans (ESOPs) offer a powerful alternative. ESOP companies are more productive, resilient in downturns, and closely aligned with local communities, especially in rural and manufacturing regions. Employees in ESOP companies accumulate significantly greater retirement savings, often more than double that of workers in traditional firms, while also gaining a meaningful voice in the business. ESOPs preserve family business legacies, promote economic equity, and keep ownership and innovation in American hands.

Despite their clear benefits, ESOP transitions face structural financing challenges. Traditional buyers offer sellers immediate liquidity, but employee ownership often requires the seller to wait 5–10 years for full payment—discouraging many from pursuing this path, even with existing tax incentives.

The American Ownership and Resilience Act aims to bridge this financing gap by activating private investment to support employee ownership. This approach offers a strategic alternative to foreign acquisition and strengthens the foundation of the American economy by investing directly in its workforce.

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Thanks to State Representative Taylor Rehfeldt and all nurses for what you do for all of us!  Very proud of all the nurses in my family, including my aunts, my sister, and my mom whom a number of people in Pierre remember as one of the School Nurses at Jefferson, Buchanan, the Jr. High, etc. while growing up. When she wasn’t auctioneering, stripping furniture, running an antique shop, etc:

(Of course, being a nurse meant that we only went to the doctor when we were dying, or the bone was sticking out.. which might be an old joke, but well grounded in reality.)

Again, thank you to all the nurses out there on the front lines of health care.

From Facebook, congratulations to Senator Tim Reed:

Thune: Republicans Fighting to Prevent Democrats’ Small Business Tax Hike

“[I]f we don’t extend and make permanent the Tax Cuts and Jobs Act, at the end of this year, our small businesses are going to be facing a $600 billion tax hike. And that is what the Democrats here are going to be voting for if they choose not to work with us …”

 Click here or on the picture to watch the video.

WASHINGTON — U.S. Senate Majority Leader John Thune (R-S.D.) today spoke at a press conference with Senate Republican leadership.

Came across this in a shop a couple of weeks back, and thought I’d share how we used to advertise our State Capitol Building and grounds as a tourism destination. Back in the early 50’s during the Sig Anderson era of state government..

Well, there’s a first. Mike Zitterich actually managed to turn in a petition to run for office, unlike his previous attempts:

In a statement sent to the Argus Leader, Zitterich said that he wants to “infuse into my platform the America-First concept, by establishing a Sioux Falls First Agenda, of promoting strong ethical, and christian principles back in government,” adding that he’s interested in creating a “Government Financial Transparency” office to examine city spending.

And…

His press release points to a website with several articles authored by Zitterich, including one in which he claimed that “Great Britain has remained in full control of the United States” despite the outcome of the American Revolution.

Read that in the Argus Leader.

God save the king? Oookay..

At least that’s not as bad as the last time Mike Zitterich was on our radar, as he explained why it’s ok for 16 year old girls to be married off to 45 year old men:

“By the time your children reach their teenage years, ages 13-19 becoming young adults, they begin to earn our respect, earning the the right to become employed (age 13), to drive on public roads (age 14), and beginning to form their own adult like relationships. Mind you, all by pertaining by the rules and guidelines as laid down by the rules of the home, their parents, so by age 16, they may get married to any adult older than 16”

…. the b.s media clam that anyone having sex with a teenager is a pedo, when in fact, it simply violates the consent laws, where the parents must be involved in those types of relationships.”

Read that here (with a copy of his original Facebook post)

And folks, that is why candidate quality matters. Because this is what you get when it doesn’t.

Unless you like people in office who think Great Britain is still in control, and old men should be able to marry little girls. (With the parent’s involvement, as per Zitterich.)

Thune: Small Businesses Are the Backbone of Our Economy

 “We want to give small businesses certainty by making these pro-growth tax policies permanent.”

Click here to watch the video.

 

WASHINGTON — U.S. Senate Majority Leader John Thune (R-S.D.) today delivered the following remarks on the Senate floor.

From phones in District 25 this morning, it looks like today’s theme continues to be fighting from the hard right against themselves.

The anti-pipeline people are on the attack against Senator Tom Pischke because he stepped out of line of a John “California” Carley bill this last session that went down in flames in committee, calling him out for being a “socialist green new deal agenda” supporter.

That being said, the attack seems to be coming from Arch Beal’s favorite poking target, scummy lobbyist Anthony Miryzanats, who has also been going at Pischke for avoiding support for Miryzanats’ looney anti-chemtrail candidate petitions, as opposed to Pischke’s own looney chemtrail efforts.

If you recall the poll from SD News Watch this last week, it seems that the people who are affected most significantly by it are the ones who were in last place; Jon Hansen (2%) and Toby Doeden (4%).

Why? Because their supporters, or at least former supporters, are drawing up battle lines and going on the attack.

As 4% (Doeden) starts touring around the state speaking to groups doing meet and greets (while not looking meetable or greetable)..

The 2%’ers (Hansen/Lemmings) are having a bit of a freak out:

SPEAKING OF GRIFTERS

A certain businessman from Aberdeen is still making noise about trying to be the “true conservative” that will save us all.

and..

A few of you may be wondering why I am even mentioning someone who hasn’t even announced his candidacy yet. Well, that’s because in the past several weeks, Toby Doeden and his campaign staff have been making contact with hundreds of legislators and influential people throughout the state, making his intentions clear. In the process, the Toby people are making this basic argument: Toby can win because he has MORE MONEY. Jon & Karla can’t win because they have LESS MONEY.

Is money our god now?

and..

All that you can do at this point in time, now that Jon and Karla have announced their candidacy to a very enthusiastic group of Patriots all over this state, is screw it all up for the rest of us.

Look, I’d consider supporting Toby if we were bereft of any better Patriot options. But we’re not bereft, we’re blessed, with a bonafide Patriot team with a very pro-Grassroots history. From a purely logical viewpoint, the only thing that Doeden can possibly accomplish by entering the race at this point is to divide the grassroots, watering down our chances to defeat the Establishment. Some in the movement suspect that is the entire reason that Toby is being pushed by certain poltical actors in South Dakota. Sabotage.

A new term I’ve been hearing around the coffee machine is “Tobidoed”, which is when Toby Doeden gets someone alone in a room and threatens to “end their career” if they get in his way. I’ve had personal confirmation that this happened to a well-known Patriot legislator friend. Don’t worry, he’s still on the Patriot Train.

Read that here.

Interestingly, Looney Chris Larson’s screed attacking Doeden was posted on Nichole Braitwait’s website. She’s one of the people in the North Hills who just posted side-by side with Doeden in Spearfish a few weeks back.

Similarly, people like Rep. Tina Mulally, who had been at that rally, and was also one of those in attendance in Doeden’s Mark “I’m a black nazi” Robinson rally this last fall, is now seen in attendance in the Hanson/Lems rallies.

Is it just me, or are the same people who were in attendance at Toby’s big rally last fall worshiping at his feet like he was a golden calf (or at least a cash cow) now telling Toby that he’s going to screw it up for them, and looking to him as a different sort of livestock – a scapegoat?

We’ll just have to see who is going to blink.

South Dakota Teenage Republican had been on the decline in the state. But they are coming back to life, and are once again holding TAR camp out in the Hills this summer. And, registration is now open:

Click here to register or for more information!