Greenville Reporter

WASHINGTON, D.C. — U.S. Congressman Don Davis (NC-01) introduced a package of bipartisan veteran legislation during National Small Business Week (April 30 - May 6, 2023). Congressman Davis represents over 45,000 veterans in North Carolina’s First Congressional District, and the set of bills will help to repay the sacrifice of our brave men and women in uniform.

H.R. 3084, the Veterans Jobs Opportunity Act will provide veterans who are starting a small business in eastern North Carolina with a 15% tax credit on the first $50,000 of the startup costs. This bipartisan legislation is co-led by Congressman Zach Nunn (R-IA).

"Providing our veteran business owners with more support to start small businesses will boost our local economies and inject a sense of pride and public service into our communities,” said Congressman Davis. “Our veteran-owned small businesses play an essential role in our society, and this bipartisan legislation will invest in our brave veterans while helping the communities that need assistance the most, like eastern North Carolina."

“We should always do everything in our power to give back to America’s veterans who have given so much to our country.  That’s why I’m excited to help introduce the bipartisan Veterans Jobs Opportunity Act,” said Congressman Nunn. “Our bill will give veterans a helping hand to open a new business in Iowa’s often underserved rural Iowa communities. This is truly a win-win for veterans and rural economic development.”

H.R. 3085, the Coast Guard Combat-Injured Tax Fairness Act, ensures Coast Guard veterans receive the full benefits they earned through their service. The legislation would close a loophole in an existing law that failed to provide Coast Guard servicemembers with the same tax break afforded to other active-duty personnel. This bipartisan legislation is co-led by Congressman Don Bacon (R-NE).

“It’s an honor to introduce bipartisan legislation to ensure our U.S. Coast Guard veterans get the full benefits of their service,” said Congressman Davis. “Our brave men and women in uniform are the heartbeat of our nation, and we must close this loophole.”

“In 2016, the Combat-Injured Veterans Tax Fairness Act returned taxes that were improperly withheld from combat-injured veterans of the Army, Navy, Air Force, and Marine Corps. However, Coast Guard personnel injured while serving in combat were not included in that legislation,” said Congressman Bacon. “The Coast Guard Combat-Injured Tax Fairness Act would ensure that combat-injured Coast Guard veterans receive their full benefits as combat-injured veterans in their sister services and will prevent similar oversight in the future.”

North Carolina ranks 10th in the nation for number of veteran-owned small businesses. The State is home to more than 84,000 of those businesses, accounting for nearly 1 in 8 small businesses across the state, a rate nearly 25 percent higher than the national average.

Original source can be found here.