By Debbie Gregory.
Senator Jeanne Shaheen of New Hampshire recently introduced two bills into the U.S. Senate that would benefit Veterans in both finding jobs and succeeding as small business owners.
The first bill, called the Veterans Hiring Act, S.2138, would provide a tax cut for businesses who hire Veterans. For four quarters after the hiring of a Veteran, separated under conditions other than dishonorable, the bill would offer the employer a tax break of 50% of the Veteran’s payroll wages.
The Veterans Hiring Act would work as an incentive to employers to hire Veterans and battle the high Veteran unemployment rate, especially the unemployment rate among Veterans of Iraq and Afghanistan. If approved, the tax break could mean a huge savings, especially for small business owners who hire Veterans.
The second bill is called the Veterans Entrepreneurship Act, S.2143. This bill proposes to lower the cost of Small Business Administration (SBA) loan programs designed to help Veterans start their own small businesses. If passed, S.2143 would permanently do away with guarantee fees for Veterans who are applying for SBA Express loans. This would also include active duty military, Reservists, as well as spouses of active duty, Veterans and surviving spouses of deceased personnel who died in connection of their service.
The Veterans Entrepreneurship Act also proposes the founding of programs to assist entrepreneurs who serve in the National Guard or Reserves. If passed, the bill contains verbiage for adding pre-deployment assistance, including financial planning and counseling for members who own their own business.
Bill S.2143 also calls for a report from the SBA to be submitted to Congress, detailing the current levels of outreach and assistance given to female Veterans. Additionally, the bill asks for a report on the Military Reservists Economic Injury Disaster Loan Program.
Despite what many believe, one person can make a difference. If you support these bills that will benefit Veteran employment seekers, businesses who hire Veterans, Veteran Entrepreneurs, female Veterans and women in business, please reach out to one or both of the senators from your state. If enough individual constituents reach out to their legislators, asking for the same thing, they can’t be ignored.
Contact your senators today and urge them to support Veterans and Veteran businesses by voting YES on The Veterans Hiring Act, S.2138, and the Veterans Entrepreneurship Act, S.2143. Click Here to find contact information for your state’s senators.