Hollingsworth sponsors bipartisan Investing in VETS Act

U.S. Rep. Trey Hollingsworth (R-IN) on Nov. 12 introduced a bipartisan bill that would boost support for small businesses owned by America’s service-disabled military veterans.

“Our veterans, and especially those disabled in their service, deserve the opportunity to succeed after their time defending this great nation,” Rep. Hollingsworth said. “I am proud to support increased access to economic opportunities for service-disabled veterans and their businesses.”

The Investing in Veteran Entrepreneurial Talents (VETs) Act, H.R. 5953, which Rep. Hollingsworth sponsored with original cosponsor U.S. Rep. Frank Mrvan (D-IN), would amend the Small Business Act to increase from 3 percent to 5 percent the government-wide goal for participation in federal contracts by small business concerns owned and controlled by service-disabled veterans, according to the text of the bill.

If enacted, the increase authorized under H.R. 5953 would bring the current federal government contracting goal for Service-Disabled Veteran-Owned Small Businesses into parity with Woman-Owned Small Businesses and Socially and Economically Disadvantaged Small Businesses, according to information provided by Rep. Hollingsworth’s office.

The congressman first introduced the bill in December 2020. The original version included a certification protocol modification that was adopted in the fiscal year 2021 National Defense Authorization Act, which Rep. Hollingsworth supported.

The re-introduced version, H.R. 5953, has been referred for consideration to the U.S. House Small Business Committee.