Reps. Phillips, Houlahan Launch Congressional Stakeholder Capitalism Caucus
On Friday, June 11th, Reps. Dean Phillips (D-MN) and Chrissy Houlahan (D-PA) joined non-profit and business leaders to discuss the path toward a more equitable, sustainable and prosperous economy and to launch a new Congressional Stakeholder Capitalism Caucus dedicated to that cause. As our nation recovers from the historic COVID-19 crisis, the Stakeholder Capitalism Caucus will convene Members of Congress and sector leaders who are reimagining the role of American corporations to foster inclusion, generate longer-lasting growth, and benefit stakeholders more widely and equitably.
“I was raised in a family that believed business was a means to an end, said Rep. Phillips. “And that end was not how much wealth we could accumulate, but rather how much we could share with those who made it possible. As our nation – and our world – grapples with rising income inequality, climate change, and now the COVID-19 pandemic, it’s time we ask our businesses to step up, take a broader view of their collective responsibilities, and ensure a prosperous future for everybody.
“We have to be honest with ourselves – our economy is not working for everyone,” said Rep. Houlahan. “Business must harness the power of capitalism to change our current trajectory. Guided by the values of integrity, inclusivity, and decency, we in this Caucus can restore the true role of business in society and create shared and durable prosperity for all.”