H.R.828 - Successful Entrepreneurship for Reservists and Veterans Act; SERV Act (119th Congress)
Summary
H.R.828, the Successful Entrepreneurship for Reservists and Veterans Act (SERV Act), aims to improve access to resources and credit for veteran-owned small businesses. The bill mandates the Small Business Administration (SBA) to report on the activities of the veterans interagency task force. It also requires the Comptroller General to report on the accessibility of credit for small businesses owned and controlled by veterans, reservists, and their spouses.
Expected Effects
The SERV Act will likely increase awareness of and access to federal programs designed to support veteran entrepreneurship. The GAO report will provide data-driven insights into the challenges faced by veteran-owned businesses in securing credit. This information can be used to develop more effective policies and programs.
Potential Benefits
- Enhanced support for veteran-owned small businesses.
- Increased awareness of available resources and programs.
- Improved access to credit for veterans and reservists.
- Data-driven policy making based on GAO report findings.
- Potential for increased economic opportunities for veterans and their families.
Potential Disadvantages
- The Act itself does not authorize additional funding, potentially limiting its impact.
- The reporting requirements may place an additional burden on the SBA and GAO.
- The effectiveness of the Act depends on the implementation of the SBA's outreach plan and the responsiveness of federal lending programs.
- The benefits are primarily focused on a specific group (veterans), potentially overlooking other small business owners.
- The Act's reliance on existing programs may not address fundamental issues in access to capital.
Constitutional Alignment
The bill aligns with the Constitution's general welfare clause (Preamble) by promoting economic opportunities for veterans. Congress has the power to legislate in areas of economic regulation and to provide for the common defense, which includes supporting veterans. The Act does not appear to infringe upon any specific constitutional rights or limitations.
Impact Assessment: Things You Care About ⓘ
This action has been evaluated across 19 key areas that matter to you. Scores range from 1 (highly disadvantageous) to 5 (highly beneficial).