H.R.828 - Successful Entrepreneurship for Reservists and Veterans Act; SERV Act (119th Congress)
Summary
H.R.828, the SERV Act, aims to improve entrepreneurial opportunities for reservists and veterans by requiring the Small Business Administration (SBA) to report on the veterans interagency task force and the Comptroller General to report on access to credit for small businesses owned by covered individuals. The bill seeks to enhance outreach and promotion of existing SBA programs for veterans and reservists. It also mandates a GAO report on credit access challenges faced by veteran-owned small businesses.
Expected Effects
The SERV Act is likely to increase awareness and utilization of SBA programs designed for veteran entrepreneurs. The GAO report will provide data-driven insights into the credit access issues faced by veteran-owned small businesses. This information could lead to policy changes aimed at improving access to capital for this group.
Potential Benefits
- Enhanced Support for Veteran Entrepreneurs: The bill strengthens existing programs and services for veterans seeking to start or grow their own businesses.
- Improved Access to Credit: The GAO report will identify obstacles and gaps in credit availability, potentially leading to targeted interventions.
- Increased Awareness: The reporting requirements will increase awareness of available resources and programs for veterans.
- Data-Driven Policy Making: The GAO report will provide valuable data for policymakers to make informed decisions about supporting veteran entrepreneurship.
- Economic Empowerment: By supporting veteran-owned businesses, the bill contributes to the economic empowerment of veterans and their families.
Potential Disadvantages
- Limited Scope: The bill primarily focuses on reporting and analysis, with no direct funding or program creation.
- Potential for Inaction: The GAO report may not necessarily lead to concrete policy changes or improvements in credit access.
- Administrative Burden: The reporting requirements could create an additional administrative burden for the SBA and GAO.
- No Direct Financial Assistance: The bill does not provide direct financial assistance to veteran-owned businesses.
Constitutional Alignment
The bill aligns with the general welfare clause of the Constitution (Preamble), as it seeks to promote the economic well-being of veterans. Congress has the power to enact legislation related to the military and veterans under Article I, Section 8, which grants Congress the power to raise and support armies and provide for a navy. The bill's focus on small business support also aligns with Congress's power to regulate commerce.
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).