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Source : Contractor News
December 29, 2021
Author : Kristy Casanova
In honor of Veterans Day, a congressional bill, H.R.5953 was introduced by United States Representatives Trey Hollingsworth and Frank Mrvan. H.R. 5853, known as the Investing in Veteran Entrepreneurial Talents (VETs) Act.
It would raise the federal contracting participation goal for Service-Disabled Veteran-Owned Small Businesses (SDVOSBs) to 5 percent.
Raising the federal contracting participation for SDVOSBs will bring it into congruence with the current participation goals for Women-Owned Small Businesses (WOSBs) and Socially and Economically Disadvantaged Small Businesses (SDBs).
The bill was originally introduced in November 2020 and now reintroduced, one year later and is currently being reviewed by the House Small Business Committee.
Rep. Hollingsworth drafted the Investing in VETs Act in consultation with several service-disabled veterans for input. He stated, “I am proud to support increased access to economic opportunities for service-disabled veterans and their businesses".
You can read the entire bill here: https://www.congress.gov/bill/117th-congress/house-bill/5953