More unemployed workers could join state programs that let them start a business while getting benefits. They would have to report their startup work each week. States could let more people join, but most changes would start two years after the bill becomes law.
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New Opportunities for Business Ownership and Self-Sufficiency Act is a Senate bill in committee. The latest recorded action: Received in the Senate and Read twice and referred to the Committee on Finance.
Latest action on H.R. 6431: Received in the Senate and Read twice and referred to the Committee on Finance.
Who this affects: This bill mainly affects unemployed workers who want to start a business while receiving unemployment benefits. It also affects state workforce agencies and unemployment offices, because they would have to approve activities, collect weekly reports, and update their systems. States that run or want to run these programs would get more room to expand them, but also more rules to manage.
Why this matters: This bill could make it easier for unemployed workers to try starting a business while they still have benefits. That could help some workers move toward self-employment sooner. It could also give states a bigger role in deciding who qualifies and how to check their work. The real impact is uncertain, because it depends on which states use the option and how the Department of Labor writes the rules.
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