WASHINGTON, DC – Today, Congressman Brian Fitzpatrick (PA-1), Congressman Andy Kim (NJ-3), and Congressman André Carson (IN-7) re-introduced the bipartisan Better Utilizing Infrastructure for Lasting Development of (BUILD) Veterans Businesses Act, which would create a new program for veteran owned small businesses to win up to 3 percent of federal-aid highway and public transportation contracts.
“Our veterans are heroes and deserve every opportunity to succeed in their careers after their time in the military,” said Congressman Fitzpatrick. “With so many successful veteran entrepreneurs across Bucks and Montgomery Counties and our nation, I am proud to join my colleagues in introducing the bipartisan BUILD Veterans Businesses Act to ensure greater opportunities for veteran-owned businesses in rebuilding our nation’s infrastructure.”
"Our veterans served our country honorably and are looking for that next mission once they leave the service. Now, thanks to once-in-a-generation funding made available through the Bipartisan Infrastructure Law, I believe, this can be that mission," said Congressman Kim. "We have so many veteran small business owners who are ready to get to work and who can bring their unique technical skills and knowledge to the table to tackle these projects. Our veterans are just asking for a fair shot at continuing their efforts to serve our country, and we should work to make sure we’re doing everything we can to provide those opportunities. I'm proud to work with my colleagues, Congressmen Carson and Fitzpatrick, on this bipartisan effort that will help lift up our veteran small business owners and make our communities across New Jersey and the entire country stronger.”
“Veterans have unique skills that are an asset to our economy, and particularly the small business community. It’s also important that we serve our veterans in the same way they have so bravely served our country,” said Congressman Carson. “The benefits of this bill are three-fold: serving our veterans, boosting our economy, and expanding new opportunities under the Bipartisan Infrastructure Law. I’m proud to support the BUILD Veterans Businesses Act.”
This bill would increase opportunities for veteran small business owners by ensuring that they receive at least 3 percent of federal contracts for federal highway and public transportation projects – such as construction, manufacturing, professional services like architecture & engineering, transportation, warehousing, and administrative support.
The Federal Highway Administration oversees the distribution of more than $40 billion in annual funding to the states for the construction, maintenance and preservation of our nation's highways and public transportation systems. According to a 2018 report by the Small Business Administration and the Federal Reserve Bank of New York, "veteran entrepreneurship is facing a generational decline, with younger veterans owning businesses at lower rates compared to past generations." The same report outlines that, "22 to 25 percent of transitioning veterans indicate that they would like to start businesses", but that "75 percent of the veteran entrepreneur respondents reported encountering challenges as they were starting and growing their business."
While veteran small business owners are in need of support, their potential to help our economy recover is sizable. According to the Small Business Administration, veterans own more than 1.9 million businesses, generating $1.3 trillion in total sales, and employ nearly 5.5 million Americans.
You can find the legislative text of the bill here.