Bennet, Coons, Lankford Introduce Bill to Help Unemployed Workers Start Small Businesses

Aug 13, 2026 | Press Releases

Denver - Colorado U.S. Senator Michael Bennet, a member of the Senate Finance Committee, joined U.S. Senators Chris Coons (D-Del.), James Lankford (R-Okla.), and Jon Husted (R-Ohio) to introduce the New Opportunities for Business Ownership and Self-Sufficiency (NO BOSS) Act, legislation that would modernize the Self-Employment Assistance (SEA) program so that laid off workers can more easily receive their normal unemployment insurance (UI) benefits while working full-time to start a new business.

"Our unemployment insurance system shouldn't discourage entrepreneurs trying to build their own business or pursue a new idea," said Bennet. "This legislation gets rid of artificial barriers to self-employment without jeopardizing workers' access to the unemployment benefits they're owed."

"Every small business began with someone taking a chance on a new idea, and new AI tools will make it easier than ever to turn those ideas into business plans, sales, and storefronts," said Coons. "Americans shouldn't have to choose between the safety net of unemployment benefits that they've paid into and the all-American opportunity to chase their entrepreneurial dream. As artificial intelligence reshapes the nature of work, this bill will help support American entrepreneurs, keep food on families' tables, lift up small businesses, and keep our economy strong."

"If you lose your job, the government shouldn't tell you the only way forward is to go work for somebody else," said Lankford. "Some folks have a business idea they've been dreaming about for years, and losing a job might be the push to finally chase it. Right now, an outdated federal rule forces people on unemployment to spend their time applying for jobs they don't want instead of building the business they do want. Our bill fixes that. If you're willing to put in the work to start a business, hire your neighbors, and build something in your community, we should cheer you on, not stand in your way."

Current law allows states to operate SEA programs, which allow eligible unemployment insurance beneficiaries to continue receiving benefits while working full-time to launch a business rather than searching for traditional employment. However, outdated federal rules unnecessarily limit who can participate, leaving fewer workers with a meaningful opportunity to choose business ownership over traditional employment. The NO BOSS Act would ensure that workers experiencing a job transition don't have to sacrifice their unemployment insurance payments to pursue their entrepreneurial dreams.

The NO BOSS Act would update the SEA program by:

• Creating new opportunities for unemployment insurance beneficiaries and encouraging small business formation;
• Eliminating the requirement that SEA beneficiaries must be "likely to exhaust benefits," which implies the program can only be used by workers unlikely to find another job;
• Clarifying that developing a business plan and conducting market feasibility studies count as entrepreneurship work;
• Making it easier for more states to establish SEA programs modeled on the most successful state programs.

The bill is endorsed by the Center for American Entrepreneurship, the Foundation for American Innovation, Small Business & Entrepreneurship Council, the R Street Institute, Shopify, Block, the Bipartisan Policy Center Action, and the Coalition to Protect America's Small Sellers.

Bennet has consistently worked to help support Colorado entrepreneurs and small businesses. In June 2026, Bennet led members of the Colorado delegation - including U.S. Senator John Hickenlooper and U.S. Representatives Joe Neguse, Brittany Pettersen, Jason Crow, Jeff Hurd, and Diana DeGette - in welcoming the Small Business Administration's release of more than $1.8 million in spending authority for the Colorado Small Business Development Center, funds that he had fought for since March 2026.

The text of the bill is available HERE.

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