Washington, D.C. — Today, Representatives Julia Brownley (D-CA) and Jackie Walorski (R-IN) introduced the Veteran Entrepreneurs Act, legislation to help veterans achieve the American Dream by reducing barriers often in the way of starting a small business. The bill lowers up-front costs for veterans opening a franchise — a good option for first-time small business owners because of the built-in support — by cutting red tape and creating a tax credit to cover 25 percent of initial franchisee fees.
“Veterans have served our country with honor and distinction, and it is our duty to ensure that they can succeed in the job market when they’ve transitioned back to civilian life,” said Congresswoman Julia Brownley. “For many former servicemembers, their training and leadership skills mean they would make excellent small business owners, but they sometimes lack the initial capital needed to get started. I am proud to co-author this bipartisan legislation with Congresswoman Walorski to help more veterans achieve their dream of becoming entrepreneurs so they can better support themselves and their families.”
“Our nation’s veterans are leaders and innovators in their own right,” said Congresswoman Walorski. “Who better to start businesses, create jobs, and grow our economy than those who bravely served our country? This bipartisan legislation will not only lift up our local small business community, it will help servicemembers return to civilian life and give them a better chance to achieve the American Dream they fought to protect. I am grateful to work with my colleagues on both sides of the aisle to help provide the support our veterans earned.”
The text of the bill is available here.