WASHINGTON, D.C. – Today, U.S. Senator Jacky Rosen (D-NV), a member of the Senate Committee on Small Business and Entrepreneurship, announced the Senate passage of a bipartisan resolution she helped introduce recognizing November 4 through November 8, 2019, as “National Veterans Small Business Week.”
“Small businesses are the driving force of Nevada’s economy, and many of these businesses are either run by veterans or provide our veterans the opportunity to succeed as they transition into the civilian workforce,” said Senator Rosen. “I’m co-sponsoring this bipartisan legislation which would recognize National Veterans Small Business Week, and celebrate the contributions and accomplishments of our veterans, servicemembers, and military spouses as small business owners. I am glad to see this legislation pass the Senate and will continue to pursue commonsense legislation that provides our veteran and small business communities with resources and opportunities for success.”
BACKGROUND: Of the 21.2 million veterans in the U.S., 13% are self-employed and own over 2.5 million small businesses across the country. These businesses employ more than 5 million people, generate $210 billion in annual payroll, and contribute over $1 trillion in annual sales receipts to the U.S. economy.
According to the U.S. Census Bureau, in Nevada, 1 in 8 small businesses are veteran-owned, with over 23,000 veteran-owned small businesses helping to create jobs and stimulate the economy.
In July, Senator Rosen introduced the bipartisan Veterans Jobs Opportunity Act (S. 2100), legislation that would create a small business startup tax credit to help veterans who establish small businesses in underserved communities.
Earlier this year, Senator Rosen introduced her bipartisan Hire Student Veterans Act (S. 537), legislation to expand the existing Work Opportunity Tax Credit (WOTC) to ensure that all student veterans using their GI benefits can take advantage of valuable paid internships or work opportunities while in school.