For Immediate Release
Friday, September 12, 2008
Contact: Josh Moenning
(402) 438-1598
Washington, DC - Congressman Jeff Fortenberry has introduced H.R. 6850, the Veterans Entrepreneurial Transition (VET) Business Benefit Act, to diversify GI Bill benefits.
“This legislation expands options to veterans as they transition into civilian life,” said Fortenberry. “It recognizes the tangible skills that veterans acquire during their military service and empowers them to leverage these skills with entrepreneurial opportunity.”
The VET Business Benefit Act was introduced in the House of Representatives on September 9, 2008, and would permit veterans who have earned educational benefits under existing law to elect to use those benefits to start and operate a business. The Secretary of Veterans Affairs would be responsible for implementing the program, to include requiring a business plan and periodic reporting during the period that benefits are being paid.
“Historically, we have seen only a third of all veterans using education benefits, and only eight percent will take full advantage of their entire eligibility. This bill recognizes the variety of situations faced by veterans transitioning from military service and responds by increasing the diversity of opportunities to use their earned benefits to launch a successful and vibrant civilian career. At the same time, it fuels the businesses that create jobs and spur economic growth in America.”
H.R. 6850 was referred to the House Committee on Veterans’ Affairs.
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