VETs Act to raise SDVOSB goal introduced
News - Published Nov 17, 2021
United States Representatives Trey Hollingsworth and Frank Mrvan, both of Indiana, have introduced a congressional bill, H.R.5953, which would raise the current federal contracting participation goal for Service-Disabled Veteran-Owned Small Businesses (SDVOSBs) from 3 percent to 5 percent. The bill is known as the Investing in Veteran Entrepreneurial Talents (VETs) Act.
Currently, the participation goals for Woman-Owned Small Businesses (WOSBs) and Socially and Economically Disadvantaged Small Businesses (SDBs) are set at 5 percent. Raising the SDVOSB goal thus would bring it to parity with the WOSB and SDB goals.
An older version of the bill was first introduced in November of 2020, but has been reintroduced in November of 2021. The bill has currently been referred to the House Small Business Committee.
"I am proud to support increased access to economic opportunities for service-disabled veterans and their businesses," Rep. Hollingsworth said in a press release.
Read a press release from Representative Hollingsworth's office at https://hollingsworth.house.gov/news/documentsingle.aspx?DocumentID=1179.
Read the bill at https://www.congress.gov/bill/117th-congress/house-bill/5953.