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Kiggans Introduces Bipartisan Bill to Support Small Businesses Owned by Service-Disabled Veterans

Aug 07, 2023
Economy
Press
Veterans

WASHINGTON, DC: Today, Congresswoman Jen Kiggans (VA-02) announced she has introduced the Investing in VETS Act alongside Congressman Frank Mrvan (IN-01). This legislation aims to help veteran-owned small businesses by requiring at least five percent of federal government contracts to be awarded to service-disabled veteran-owned small businesses (SDVOSBs) per fiscal year. Currently, the federal government aims to award three percent of all federal contracting dollars to SDVOSBs each year. By increasing that percentage, the Investing in VETS Act would help expand the business opportunities of SDVOSBs to new markets.

“The military values of commitment, resilience, and leadership are at the heart of the businesses run by our service-disabled veterans,” said Congresswoman Kiggans. “Their service did not end when they took off their uniform…it’s only fitting that we recognize their ongoing contribution to our community through entrepreneurship. I’m proud to introduce this bipartisan bill to support Virginia’s small businesses run by service-disabled veterans.”

Congressman Mrvan stated, “I am proud to join Congresswoman Kiggans in this legislative initiative to support service-disabled veteran-owned small businesses.  Let us continue to do what we can to ensure all veterans have the resources and support to obtain a good-paying job and thrive in their entrepreneurial endeavors.”

The legislation has been introduced in the Senate by Senator Jon Ossoff (D-Georgia) and Senator Joni Ernst (R-Iowa).

According to the Bureau of Labor Statistics, approximately 27% of all veterans have a service-connected disability. There are currently more than 780,000 veterans and more than 100,000 veteran-owned businesses across the Commonwealth. A third-generation veteran who is married to a Navy veteran and mother to children who are future veterans, Congresswoman Kiggans is a fierce advocate for our nation’s heroes in Congress. You can learn more about her efforts here.

The full text of the Investing in VETS Act can be found here.

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