What Legislation Might Pass This Year to Help Small Business?
A recent Congressional Round Table event at the Capitol, hosted by Veterans Entrepreneurship Task Force (Vet-Force), offered support for the recommendations by the Interagency Task Force for Veteran Small Business Report. The Report (Recommendation #15), supported by senior members at all major Federal Agencies and VSOs, called for providing financial support from the Veterans Administration as a new property right for Veterans seeking to start a business. Legislation (H.R. 3167) has been introduced in House and the debate has begun. It could be a real game changer for Veteran Small Business and even create immediate jobs for the economy this year. The Bill is being championed by Federal Allies Institute at its Washington Days Conference on May 14th and 15th.
The International Franchise Association (IFA) increased funding to place a greater focus on its VetFran Program and re-introduced the Help Veterans Own Franchises Act on Capitol Hill. The bill, introduced by Sen. Bob Casey (D-Pa.) and Reps. Aaron Schock (R-Ill.) and Leonard Boswell (D-Iowa), is S. 1540 and H.R. 2888. The legislation would provide a tax credit to veterans who become franchisees, equal to 25 percent of their franchise fee, not to exceed $100,000. The IFA effort includes a multi-faceted campaign to attract support for the bill and to further support Veteran franchising efforts.