Hollingsworth Re-Introduces Legislation to Support Service-Disabled Veteran-Owned Businesses
November 12, 2021
WASHINGTON, D.C. – In recognition of Veterans Day, Rep. Trey Hollingsworth (R-IN) is re-introducing the bipartisan Investing in Veteran Entrepreneurial Talents (VETs) Act with Rep. Frank Mrvan (D-IN) to support Service-Disabled Veteran-Owned Small Businesses and increase economic opportunity for veterans.
The Investing in VETs Act raises the current federal government contracting goal for Service-Disabled Veteran-Owned Small Businesses (SDVOSBs) from 3% to 5%, bringing it into parity with Woman-Owned Small Businesses (WOSBs) and Socially and Economically Disadvantaged Small Businesses (SDBs).
“Every day, Hoosiers work hard to build better futures for themselves and their families. Our veterans, and especially those disabled in their service, deserve the opportunity to succeed after their time defending this great nation,” said Representative Hollingsworth. “I am proud to support increased access to economic opportunities for service-disabled veterans and their businesses.”
Rep. Hollingsworth was made aware of the discrepancy between the federal government contracting goals for SDVOSBs and other contracting categories during a meeting with Eric Hedrick from Jeffersonville, IN. The Investing in VETs Act was drafted by Hollingsworth in consultation with Eric Hedrick and other service-disabled veterans in response to this discrepancy.
“As a service-disabled veteran-owned small business owner myself, I appreciate Representative Hollingsworth’s willingness to introduce the Investing in VETs Act on behalf of veterans,“ said Eric Hedrick. “This legislation will allow veterans, injured while defending freedom, the opportunity to work with the very government they volunteered to serve. The Investing in VETs Act is a great step in the right direction to show appreciation to those who made the commitment to our country and to honor their ongoing, innate commitment to continuing that service.”
Rep. Hollingsworth first introduced the Investing in Veteran Entrepreneurial Talents (VETs) Act in November 2020. The original version included a certification protocol modification that was adopted in the 2021 National Defense Authorization Act, which Rep. Hollingsworth supported.