WASHINGTON, DC – Today, U.S. Senators Jacky Rosen (D-NV) and Jerry Moran (R-KS) introduced a bipartisan bill to cut taxes for veterans who start a small business in underserved communities. The bipartisan Veterans Jobs Opportunity Act would create a new startup tax credit to provide veterans who are starting a small business with a 15 percent tax credit on the first $50,000 of the startup costs.
“Our nation’s servicemembers deserve all of our support as they transition to civilian life,” said Senator Rosen. “I’m proud to introduce this bipartisan bill to provide Nevada veterans with a tax credit on start-up costs as they start small businesses in underserved communities and create jobs. I’ll always work to ensure our veterans have the federal resources they need.”
“By offering enhanced support to veteran entrepreneurs starting small businesses, we can bolster local economies and channel their work-ethic into their communities,” said Senator Moran. “Veteran-owned small businesses play an important role in rural communities, underserved areas and society, and this legislation will allow our nation’s heroes to encourage those around them and uplift communities across the country.”
Senator Rosen has been leading bipartisan efforts to support Nevada’s veterans. Earlier this month, she announced that bipartisan legislation she helped introduce passed the Senate to increase veterans’ awareness of the VA Home Loan Program. Earlier this year, Senator Rosen sent a letter to Senate Appropriators requesting funding to help homeless veterans find housing through rental assistance. In the recent bipartisan government funding package, Senator Rosen secured funding to increase access to affordable housing for veterans, continue building Nevada’s first national veterans cemetery in Elko, and increase funding for veteran’s access to telehealth. Additionally, she helped introduce bipartisan legislation to officially authorize the construction of a new veterans hospital in Reno, which she also successfully pushed the president to include in his 2024 budget request.
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