Accountable Capitalism Act

The Accountable Capitalism Act requires large corporations (those with over $1 billion in annual revenue) to obtain a charter from a new Office of United States Corporations. Once chartered, these corporations must balance profit with creating a "general public benefit" for society, including considering employees, customers, communities, and the environment in decision-making. The bill mandates that at least 40% of board directors be elected by covered employees (including workers across various sectors) and requires 75% shareholder and director approval for political spending. It also restricts executive stock sales and allows revocation of charters for corporations engaging in repeated, egregious misconduct that harms customers, employees, or communities. This legislation directly affects large corporations operating in the U.S. across multiple sectors, imposing new governance requirements and accountability measures.