September 15, 2011

WASHINGTON, D.C. – U.S. Congressman Jason Altmire (PA-04) today announced the formation of the Privately-Held and Family-Owned Business Congressional Caucus. Congressman Altmire will co-chair the new caucus with Congressman Peter Roskam (R-Ill.)

"Privately-owned businesses pump trillions of dollars into our economy, and, more importantly, employ more than 4 million Americans," Congressman Altmire said. "The interests of these businesses are often overshadowed by large, publicly traded companies, yet the policy decisions we make impact their operations. It is important that their needs are brought into our discussions in Washington, and I look forward to ensuring these businesses have a voice as Congress continues to develop policies to get our economy back on track."

According to a study by Forbes, the 223 largest privately owned companies in America employed 4.4 million people, and accounted for $1.34 trillion in revenues. While publicly-traded companies can rely on shareholder investments for capital, private and family-owned businesses are more dependent on after-tax revenue and traditional bank borrowing to finance their endeavors.