Press Releases

WASHINGTON, D.C. –  On Thursday, U.S. Congressmen Mike Waltz (FL-06) and Jimmy Panetta (CA-19) introduced the bipartisan Contract Our Veterans Act in the House to set goals for the U.S. Department of Defense to increase contracts with small, veteran-owned businesses.

“It is a win-win scenario for both our Department of Defense and veteran-owned small businesses to work together,” said Waltz. “Not only will it help promote entrepreneurship amongst our veterans, but it will create jobs here at home and strengthen our military’s supply chains.”

“As a veteran and U.S. Representative, I believe that the federal government should support entrepreneurship among our veterans,” said Panetta.  “That’s why I support the bipartisan Contract Our Veterans Act that would ensure that five percent of the Department of Defense's yearly federal contracts go to veteran-owned small businesses.  Through this type of legislation, Congress can help fulfill its obligation to expand opportunity for those who served while bolstering our local economies and national security.” 

“The American Legion fully supports Representative Waltz’s bill expanding Veterans First Contracting Preference to the Department of Defense,” said Chanin Nuntavong, Executive Director of the American Legion. “This legislation will increase the number of veteran-owned small businesses by tens of thousands, create hundreds of thousands of new veteran jobs, will strengthen national supply chains, and create a desperately needed recruiting incentive for our Armed Forces recruiters.”

Background: 

Currently, the Defense Department has set contracting goals within 5 small business categories: women-owned, service-disabled veteran-owned, socially and economically disadvantaged, historically underutilized business zones, and disadvantaged. The Contract Our Veterans Act would add veteran-owned small businesses to the list and set a contracting goal of 5 percent of the value of all prime contracts and subcontracts awarded each year, similar to the goal already set for service-disabled veteran-owned contracts.