Congressman Jeff Fortenberry (R-NE) today announced introduction of the Veterans Entrepreneurial Transition (VET) Act which would allow veterans to receive grants to start or buy a new business. Companion legislation was introduced in the Senate by Senator Jerry Moran (R-KS) and S. 1870 passed the Senate Committee on Small Business and Entrepreneurship this morning.
"I’m so proud to introduce this bill to help our veterans,” Fortenberry said. “The VET Act will help veterans in the transition from military to civilian life. It will create jobs and more efficiently use existing public resources. With this legislation, qualified veterans will be able to use the skills acquired in the military to start a business to support themselves and their families as well as our communities and economy.”
The Veterans Entrepreneurial Transition Act (H.R. 3248) establishes a three year pilot program for up to 250 eligible veterans. This legislation will leverage the benefits of the G.I. Bill to allow veterans to establish and operate a business, maximizing their opportunity for entrepreneurial success.
The VET Act is supported by: One Vet at a Time; Small Business Administration; National Guard Association of the United States; American Legion; Iraq Afghanistan Veterans of America; Veterans2Commerce; Military Business Owners Association; The Bunker; Kauffman Foundation; Association of Defense Communities; former Assistant Secretary of Defense for International Security Bing West; and former Supreme Allied Commander at NATO Admiral James Stavridis.
Fortenberry is a member of the House Appropriations Subcommittee on Military Construction and Veterans Affairs.