United States Representatives Mike Waltz and Jimmy Panetta have introduced a bill entitled the "Contract Our Veterans Act" in the House of Representatives. The bill aims to increase the rate at which the U.S. Department of Defense (DOD) contracts with small, veteran-owned businesses.
Under current law, the DOD has contracting goals for five categories of businesses, those being: women-owned, service-disabled veteran-owned, socially and economically disadvantaged, historically underutilized business zones, and disadvantaged. The category of "small, veteran-owned business" would be a sixth business category, distinct from the "service-disabled veteran-owned" category, and would have a participation goal of 5 percent of the total value of contracts and subcontracts awarded each year.
"It is a win-win scenario for both our Department of Defense and veteran-owned small businesses to work together," said Representative Waltz in a statement.
Read a press release from Representative Waltz at https://waltz.house.gov/news/documentsingle.aspx?DocumentID=874.
Find the bill at https://www.congress.gov/bill/118th-congress/house-bill/7401 (note that as of 2/20/24, the text of the bill is still pending).
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