Sen. Ossoff’s bipartisan legislation will help service-disabled veteran-owned small businesses compete for Federal contracts
Over 97,000 veterans across Georgia own small businesses
Atlanta, Ga. — U.S. Senator Jon Ossoff’s bipartisan bill to support small businesses run by service-disabled veterans in Georgia passed the U.S. Senate.
Sens. Ossoff and Joni Ernst (R-IA) passed the bipartisan Investing in VETS Act as part of this year’s National Defense Authorization Act to help service-disabled veteran business owners compete for Federal government contracts, helping expand their business opportunities to new markets.
The new bipartisan legislation will require the Federal government and its 24 agencies to award at least five percent of its total contracts to Service-disabled Veteran-Owned Small Business per fiscal year — the same requirement in place for Woman-Owned Small Businesses and Small Disadvantaged Businesses.
“We are in the midst of a historic revitalization and construction of American infrastructure through the bipartisan infrastructure law — upgrading roads, bridges, seaports, and airports, building out broadband access, upgrading drinking water and stormwater systems. I want to make sure that veteran-owned businesses are participating in that effort in recognition of the service of veterans in the defense of our country,” Sen. Ossoff said. “That’s why I wrote and passed with Republican and Democratic support thisInvesting in VETS Act to give veteran owned small businesses a seat at the table in federal contracting, particularly as we upgrade America’s infrastructure.”
Congresswoman Jen Kiggans (R-VA-02) and Congressman Frank Mrvan (D-IN-01) introduced the bipartisan companion bill in the U.S. House of Representatives.
“The Investing in Veterans Entrepreneurial Talents Act is a crucial piece of legislation that seeks to raise the federal contracting participation goal for Service-Disabled Veteran-Owned Small Businesses (SDVOSBs) to 5 percent. This change will align the participation goals for SDVOSBs with those of Women-Owned Small Businesses (WOSBs) and Socially and Economically Disadvantaged Small Businesses (SDBs), creating a more equitable playing field for small businesses,” said Chanin Nunvatong, Executive Director of The American Legion. “Senator Ossoff has shown great leadership on this issue, and the American Legion fully supports this act as it will provide much-needed recognition and support for SDVOSBs and veterans who have served our country with distinction.”
According to the Bureau of Labor Statistics, approximately 27% of all veterans have a service-connected disability. There are currently more than 700,000 veterans across Georgia and over 97,000 who own small businesses in the state.
Sen. Ossoff is a strong advocate for veterans in the state of Georgia and nationwide.
Sen. Ossoff is also pushing to pass the bipartisan Major Richard Star Act, which would ensure Georgia’s combat-disabled veterans receive the full retirement pay and disability benefits they deserve.
Last year, Sen. Ossoff helped pass into law the most significant expansion of health care for toxic-exposed veterans in more than two decades. He also successfully passed bipartisan legislation into law that will ensure veterans can access their military records and the service benefits they have earned.
Click here to read the Investing in VETS Act.