Bill Overview
Title: VENTURE Act
Description: This bill expands eligibility for self-employment assistance under the Veteran Readiness and Employment Program to include certain veterans who have a service-connected disability or employment handicap in addition to those with the most severe service-connected disabilities.
Sponsors: Rep. Levin, Mike [D-CA-49]
Target Audience
Population: Veterans with a service-connected disability or employment handicap
Estimated Size: 2000000
- The Veteran Readiness and Employment Program serves veterans who have service-connected disabilities or employment handicaps.
- The expansion of this program through the VENTURE Act will include veterans with less severe disabilities, not just those with the most severe.
- There are millions of veterans in the United States, and a significant portion have service-connected disabilities.
- Globally, this legislation primarily supports U.S. veterans, particularly affecting their economic opportunities by facilitating entrepreneurship and self-employment.
Reasoning
- This policy targets U.S. veterans with service-connected disabilities, expanding support for those who aim to become self-employed.
- The budget allows for a significant expansion but is still limited, meaning that while it will impact many, not all eligible veterans will be able to access the program immediately.
- Different veterans will experience varying levels of impact based on their disability severity, entrepreneurial goals, and current levels of support.
- Some veterans with more significant disabilities may already be covered under existing provisions, so the policy's expansion primarily benefits those with less severe disabilities.
Simulated Interviews
unemployed veteran (Texas)
Age: 45 | Gender: male
Wellbeing Before Policy: 4
Duration of Impact: 10.0 years
Commonness: 15/20
Statement of Opinion:
- I have always wanted to start my own business but haven’t been able to due to the financial risks involved.
- Access to this program would definitely help me work on my business plan without stressing about income.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 6 | 4 |
| Year 2 | 7 | 5 |
| Year 3 | 7 | 5 |
| Year 5 | 8 | 5 |
| Year 10 | 8 | 6 |
| Year 20 | 8 | 6 |
freelance graphic designer (California)
Age: 32 | Gender: female
Wellbeing Before Policy: 5
Duration of Impact: 5.0 years
Commonness: 12/20
Statement of Opinion:
- I didn’t think I’d qualify for much help, but with this bill, maybe I can expand my freelance business.
- I’m hopeful this could aid in getting better equipment and marketing.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 6 | 5 |
| Year 2 | 6 | 5 |
| Year 3 | 7 | 5 |
| Year 5 | 7 | 5 |
| Year 10 | 7 | 6 |
| Year 20 | 7 | 6 |
retired (Florida)
Age: 54 | Gender: male
Wellbeing Before Policy: 6
Duration of Impact: 0.0 years
Commonness: 8/20
Statement of Opinion:
- I’m not actively looking to start a business, but it’s reassuring to know I have options if needed.
- It’s a good support for younger veterans.
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 |
tech startup founder (New York)
Age: 38 | Gender: other
Wellbeing Before Policy: 7
Duration of Impact: 20.0 years
Commonness: 10/20
Statement of Opinion:
- This could be a game-changer for expanding my startup and creating more job opportunities.
- Access to additional resources would greatly ease my personal and professional stress.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 8 | 7 |
| Year 2 | 8 | 7 |
| Year 3 | 9 | 7 |
| Year 5 | 9 | 7 |
| Year 10 | 9 | 7 |
| Year 20 | 9 | 6 |
nurse (Virginia)
Age: 29 | Gender: female
Wellbeing Before Policy: 6
Duration of Impact: 5.0 years
Commonness: 9/20
Statement of Opinion:
- Although I enjoy my job, the idea of starting my own health consultancy is appealing.
- These funds might give me the push needed to explore that.
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 | 6 |
| Year 10 | 8 | 6 |
| Year 20 | 8 | 7 |
semi-retired mechanic (Ohio)
Age: 60 | Gender: male
Wellbeing Before Policy: 5
Duration of Impact: 0.0 years
Commonness: 7/20
Statement of Opinion:
- It sounds good for young veterans, but at my age, I don’t see myself starting a new business.
- I might use this to explore consultancy options slowly.
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 | 6 | 5 |
| Year 20 | 6 | 5 |
student (Colorado)
Age: 27 | Gender: male
Wellbeing Before Policy: 5
Duration of Impact: 10.0 years
Commonness: 11/20
Statement of Opinion:
- I’m just starting school, but having this as a future option is comforting.
- I can see myself using this to launch a business after graduating.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 5 | 5 |
| Year 2 | 6 | 5 |
| Year 3 | 7 | 5 |
| Year 5 | 8 | 5 |
| Year 10 | 8 | 6 |
| Year 20 | 8 | 6 |
restaurant owner (Illinois)
Age: 46 | Gender: female
Wellbeing Before Policy: 7
Duration of Impact: 10.0 years
Commonness: 10/20
Statement of Opinion:
- Any extra funding to help sustain or grow my business is always welcome.
- Managing my disability with entrepreneurship is tough; more support can only help.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 8 | 7 |
| Year 2 | 8 | 7 |
| Year 3 | 9 | 7 |
| Year 5 | 9 | 7 |
| Year 10 | 9 | 8 |
| Year 20 | 9 | 8 |
software engineer (Oregon)
Age: 35 | Gender: male
Wellbeing Before Policy: 7
Duration of Impact: 5.0 years
Commonness: 10/20
Statement of Opinion:
- I’ve already started my business, but this could definitely accelerate growth.
- Entrepreneurship is a lonely path sometimes; added resources make it more feasible.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 8 | 7 |
| Year 2 | 8 | 7 |
| Year 3 | 8 | 8 |
| Year 5 | 9 | 8 |
| Year 10 | 9 | 8 |
| Year 20 | 9 | 8 |
homemaker (Washington)
Age: 39 | Gender: female
Wellbeing Before Policy: 6
Duration of Impact: 7.0 years
Commonness: 9/20
Statement of Opinion:
- This is encouragement for opening my boutique business idea I had years ago.
- It gives me the confidence that I’m not alone in this if I choose to pursue it.
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 | 6 |
| Year 10 | 8 | 7 |
| Year 20 | 8 | 7 |
Cost Estimates
Year 1: $6000000000 (Low: $3000000000, High: $9000000000)
Year 2: $6300000000 (Low: $3150000000, High: $9450000000)
Year 3: $6615000000 (Low: $3307500000, High: $9922500000)
Year 5: $7276500000 (Low: $3638250000, High: $10914750000)
Year 10: $8957100000 (Low: $4478550000, High: $13435650000)
Year 100: $22858590000 (Low: $11429295000, High: $34287885000)
Key Considerations
- The number of newly eligible veterans will influence program costs substantially.
- Entrepreneurship success rates among veterans affects long-term economic benefits including GDP and tax revenue.
- Program administration and adequate resource allocation are vital for successful implementation.
- Changes within the economy, especially in labor demand, could influence the outcomes for veterans under this program.