Senators Rosen & Moran Introduce Legislation to Provide Tax Cuts for Veteran Startups

July 31, 2024

Delaney Sexton
Contributing Editor

Senators Rosen & Moran Introduce Legislation to Provide Tax Cuts for Veteran Startups

“Our nation’s servicemembers deserve all of our support as they transition to civilian life,” says Senator Jacky Rosen of Nevada. “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.”

The Veterans Jobs Opportunity Act, a bipartisan bill, would create a startup tax credit for veterans who are starting a small business in an underserved community. Veterans would receive a 15% tax credit on the first $50,000 of startup costs.

“By offering enhanced support to veteran entrepreneurs starting small businesses, we can bolster local economies and channel their work-ethic into their communities,” says Senator Jerry 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.”

Source:
Senator Rosen Press Release