Bill Overview
Title: Driving Veterans Success Act
Description: This bill requires that at least 10% of the funds under specified infrastructure programs are expended through veteran-owned small businesses.
Sponsors: Rep. Steel, Michelle [R-CA-48]
Target Audience
Population: Veterans globally who could benefit from enhanced business opportunities.
Estimated Size: 18000000
- According to the U.S. Census Bureau, there were approximately 18 million veterans in the U.S. as of recent data.
- The U.S. Small Business Administration notes that about 9% of U.S. businesses are veteran-owned.
- Veterans who own small businesses in sectors related to infrastructure will directly benefit from increased opportunities to secure contracts.
- Broader veteran population might benefit indirectly if veteran-owned businesses thrive and expand employment opportunities.
Reasoning
- The policy is specifically targeting veteran-owned small businesses involved in infrastructure projects. The U.S Census and Small Business Administration data suggest there are about 1.6 million veteran-owned businesses, a subset of which will be involved in relevant sectors.
- Veterans who are not business owners, or whose businesses do not relate to infrastructure, are likely to see minimal direct change due to this policy.
- The policy, given its budget constraints, will have significant impacts on a limited scale—benefiting some veteran business owners substantially while allowing little change for others.
- Non-veteran business owners may see even less impact, primarily experiencing indirect economic benefits or drawbacks based on regional economic factors.
- Overall, the policy could enhance economic activity within veteran communities, leading to positive indirect benefits.
Simulated Interviews
Owner of a construction company (Houston, TX)
Age: 45 | Gender: male
Wellbeing Before Policy: 6
Duration of Impact: 10.0 years
Commonness: 3/20
Statement of Opinion:
- This policy gives us a significant competitive edge in bidding for local government contracts.
- I hope it leads to more stable contracts, which in turn allows us to hire more veterans and expand operations.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 7 | 6 |
| Year 2 | 7 | 6 |
| Year 3 | 8 | 6 |
| Year 5 | 9 | 7 |
| Year 10 | 9 | 7 |
| Year 20 | 9 | 7 |
Consultant for veteran business development programs (Charlotte, NC)
Age: 60 | Gender: female
Wellbeing Before Policy: 5
Duration of Impact: 5.0 years
Commonness: 6/20
Statement of Opinion:
- The policy is a great start but needs more funding to make a real impact.
- It could potentially stimulate more investments in veteran entrepreneurship.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 5 | 5 |
| Year 2 | 6 | 5 |
| Year 3 | 6 | 5 |
| Year 5 | 6 | 5 |
| Year 10 | 5 | 5 |
| Year 20 | 5 | 5 |
Co-owner of an IT firm servicing infrastructure needs (San Diego, CA)
Age: 35 | Gender: female
Wellbeing Before Policy: 7
Duration of Impact: 10.0 years
Commonness: 5/20
Statement of Opinion:
- Such policies are encouraging as they break barriers in contract access.
- However, I worry the allocation might be too concentrated on larger players.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 8 | 7 |
| Year 2 | 8 | 7 |
| Year 3 | 8 | 7 |
| Year 5 | 9 | 7 |
| Year 10 | 8 | 7 |
| Year 20 | 8 | 7 |
Financial advisor (Denver, CO)
Age: 48 | Gender: male
Wellbeing Before Policy: 6
Duration of Impact: 10.0 years
Commonness: 4/20
Statement of Opinion:
- My clients could benefit significantly, but success will depend on how accessible the process is.
- A positive change in veteran business fortunes could indirectly benefit my business as well.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 7 | 6 |
| Year 2 | 7 | 6 |
| Year 3 | 8 | 6 |
| Year 5 | 8 | 7 |
| Year 10 | 8 | 7 |
| Year 20 | 8 | 7 |
University Student studying Business (Phoenix, AZ)
Age: 30 | Gender: other
Wellbeing Before Policy: 6
Duration of Impact: 5.0 years
Commonness: 8/20
Statement of Opinion:
- I see this as an encouraging first step for future business owners like myself.
- It highlights the importance of veteran contributions but could be more inclusive of new ventures.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 6 | 6 |
| Year 2 | 6 | 6 |
| Year 3 | 6 | 6 |
| Year 5 | 7 | 6 |
| Year 10 | 7 | 6 |
| Year 20 | 7 | 6 |
Works for a non-profit supporting veteran employment (Raleigh, NC)
Age: 55 | Gender: male
Wellbeing Before Policy: 5
Duration of Impact: 3.0 years
Commonness: 2/20
Statement of Opinion:
- I hope this policy creates trickle-down employment opportunities for homeless veterans.
- There's a need to balance emphasis on business with immediate veteran welfare needs.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 5 | 5 |
| Year 2 | 5 | 5 |
| Year 3 | 5 | 5 |
| Year 5 | 6 | 5 |
| Year 10 | 6 | 5 |
| Year 20 | 5 | 5 |
Heavy equipment operator for a veteran-owned firm (Miami, FL)
Age: 40 | Gender: male
Wellbeing Before Policy: 6
Duration of Impact: 6.0 years
Commonness: 7/20
Statement of Opinion:
- I'm hopeful this translates to job security and possibly wage increases.
- Policies like this should maintain focus on fair distribution among firm sizes.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 7 | 6 |
| Year 2 | 7 | 6 |
| Year 3 | 7 | 6 |
| Year 5 | 7 | 6 |
| Year 10 | 7 | 6 |
| Year 20 | 7 | 6 |
Retired, former owner of a logistics company (Seattle, WA)
Age: 62 | Gender: female
Wellbeing Before Policy: 5
Duration of Impact: 0.0 years
Commonness: 3/20
Statement of Opinion:
- This policy shows the renewed focus on veteran enterprises, which I think is overdue.
- I'm concerned about how it will evolve over time and reach newer generations.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 5 | 5 |
| Year 2 | 5 | 5 |
| Year 3 | 5 | 5 |
| Year 5 | 5 | 5 |
| Year 10 | 5 | 5 |
| Year 20 | 5 | 5 |
Marketing manager for a start-up (Chicago, IL)
Age: 29 | Gender: female
Wellbeing Before Policy: 7
Duration of Impact: 0.0 years
Commonness: 10/20
Statement of Opinion:
- This policy won't affect me directly, but I support more veterans getting business opportunities.
- These efforts, indirectly, could make sectors more competitive and robust.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 7 | 7 |
| Year 2 | 7 | 7 |
| Year 3 | 7 | 7 |
| Year 5 | 7 | 7 |
| Year 10 | 7 | 7 |
| Year 20 | 7 | 7 |
Civil engineer working for a large infrastructure firm (New York, NY)
Age: 51 | Gender: male
Wellbeing Before Policy: 6
Duration of Impact: 0.0 years
Commonness: 5/20
Statement of Opinion:
- We might see more bids going to veteran-owned competitors if this policy matures.
- Keeping a level playing field is crucial for a fair market.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 6 | 6 |
| Year 2 | 6 | 6 |
| Year 3 | 6 | 6 |
| Year 5 | 6 | 6 |
| Year 10 | 6 | 6 |
| Year 20 | 6 | 6 |
Cost Estimates
Year 1: $5000000 (Low: $3000000, High: $7000000)
Year 2: $5000000 (Low: $3000000, High: $7000000)
Year 3: $5000000 (Low: $3000000, High: $7000000)
Year 5: $5000000 (Low: $3000000, High: $7000000)
Year 10: $5000000 (Low: $3000000, High: $7000000)
Year 100: $5000000 (Low: $3000000, High: $7000000)
Key Considerations
- Correctly implementing the policy will require careful coordination and oversight to ensure funds are properly allocated to eligible veteran-owned businesses.
- The effectiveness of the policy in boosting veteran-owned businesses depends on the size of the overall infrastructure budget and the definition of 'small business.'
- Potential delays in allocating infrastructure funds due to compliance checks and audits could be a challenge.
- The policy may need adjustments to ensure it does not unfairly disadvantage non-veteran-owned businesses.