REP. ROSEN CO-SPONSORS LEGISLATION TO HELP VETERANS START SMALL BUSINESSES
WASHINGTON, D.C. -- Today, Congresswoman Jacky Rosen (NV-03) released the following statement after co-sponsoring the Veterans Job Opportunity Act (H.R. 3345). This legislation, introduced by Rep. Al Lawson (FL-5), would establish a small business start-up tax credit for veterans who create businesses in underserved communities. According to the U.S. Census Bureau, more than one in 10 small businesses in Nevada are Veteran-owned, with over 23,000 Veteran-owned businesses helping to create jobs and stimulate the economy.
“Part of keeping our promise to our veterans is helping our heroes transition back to civilian life when they return home from their service,” said Rosen. “This bill gives our veterans a tax credit and helps them build towards the American dream of opening a small business they can call their own. I am proud to cosponsor this bill, which will not only benefit our veterans but will help create jobs and provide an economic stimulus in our underserved communities.”
BACKGROUND: The Veterans Job Opportunity Act, H.R. 3345, would provide a 15% tax credit for veterans who open a small business in underserved communities and allows the tax credit to be claimed for the purchase or lease of property, equipment, and materials in the creation of a small business.