U.S. Reps. Trey Hollingsworth (R-IN) and Frank Mrvan (D-IN) introduced a bill seeking to increase veterans’ economic opportunity and Service-Disabled Veteran-Owned Small Businesses.
The Investing in Veteran Entrepreneurial Talents (VETs) Act raises the current federal government contracting goal for Service-Disabled Veteran-Owned Small Businesses (SDVOSBs) from 3 percent to 5 percent. This brings it into parity with Woman-Owned Small Businesses (WOSBs) and Socially and Economically Disadvantaged Small Businesses (SDBs).
“Every day, Hoosiers work hard to build better futures for themselves and their families. Our veterans, and especially those disabled in their service, deserve the opportunity to succeed after their time defending this great nation,” Hollingsworth said. “I am proud to support increased access to economic opportunities for service-disabled veterans and their businesses.”
The Investing in VETs Act was drafted by Hollingsworth in consultation with veteran Eric Hedrick from Jeffersonville, Indiana, and other service-disabled veterans.
“As a service-disabled veteran-owned small business owner myself, I appreciate Representative Hollingsworth’s willingness to introduce the Investing in VETs Act on behalf of veterans,“ Hedrick said. “This legislation will allow veterans, injured while defending freedom, the opportunity to work with the very government they volunteered to serve. The Investing in VETs Act is a great step in the right direction to show appreciation to those who made the commitment to our country and to honor their ongoing, innate commitment to continuing that service.”
The bill was first introduced in November 2020. The original version included a certification protocol modification that was adopted in the 2021 National Defense Authorization Act.