Creates a new tax credit for veterans and their spouses starting small businesses in struggling communities.
This bill would create a new tax credit to help veterans and their spouses start small businesses in areas that need economic growth. It would let them claim 15% of their start-up costs, up to $50,000, reducing their tax bill. This aims to encourage veteran entrepreneurship where it's most needed.
Today, there is no specific federal tax credit for veterans starting businesses in economically disadvantaged areas. If this bill becomes law, veterans and their spouses would be able to claim a tax credit equal to 15% of their first $50,000 in start-up costs for qualifying small businesses in these communities, reducing their tax bill.
HR 1298 · 119th Congress · AI Summary by gemini-2.5-flash · 8/10
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2 filings mentioned this bill
Amounts reflect total quarterly lobbying spend reported to the Senate, not bill-specific spending. Source: Senate LDA filings.