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Congress·In Committee·S. 3964

Sens. Sheehy and Schiff Introduce Contract Our Veterans Act to Boost Federal Spending with Veteran-Owned Firms

Contract Our Veterans Act of 2026

15 days ago·View on Congress.gov
Part of: Contract Our Veterans Act of 2026

Legislative Progress

Senate
House
President
Law

Key Points

  • The bill sets a government-wide goal that at least 5% of all federal contract and subcontract dollars go to small businesses owned and controlled by veterans. This covers prime contracts and subcontracts across every federal agency.

    From policy text

    “The Governmentwide goal for participation by small business concerns owned and controlled by veterans shall be established at not less than 5 percent of the total value of all prime contract and subcontract awards for each fiscal year.”
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  • Government contracting officers can award sole-source contracts directly to veteran-owned small businesses without requiring a competitive bidding process, as long as the price is fair and reasonable and the business can perform the work.

    From policy text

    “A contracting officer may award a contract to a small business concern owned and controlled by veterans using procedures other than competitive procedures if-- ``(1) the concern is determined to be a responsible source with respect to performance of the contract”
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  • The bill creates a restricted competition path, allowing contracting officers to limit bidding to only veteran-owned small businesses when at least two such firms are expected to submit offers and the price would be fair.

    From policy text

    “A contracting officer shall award contracts on the basis of competition restricted to small business concerns owned and controlled by veterans if the contracting officer has a reasonable expectation that-- ``(1) 2 or more small business concerns owned and controlled by veterans will submit offers”
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  • Federal agencies must track and report how much contract money goes to veteran-owned businesses, including breakdowns by sole-source awards, restricted competitions, and unrestricted competitions. This data will be part of the SBA scorecard system.

    From policy text

    “The number (expressed as a percentage) and total dollar amount of awards made to small business concerns owned and controlled by veterans through sole source contracts and competitions restricted to small business concerns owned and controlled by veterans under section 36B.”
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  • To participate, veteran-owned businesses must be officially listed in the SBA's verification database. The bill also extends existing mentor-protégé programs and business opportunity specialist support to veteran-owned firms.

    From policy text

    “A small business concern may be awarded a contract under this section only if the small business concern and the veteran owner of the small business concern are listed in the database described in section 36(f)(1).”
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VeteransEconomy FinanceLabor Employment

Impact Analysis

Personal Impact

Scores: 1 = low, 5 = highSentiment: -5 to +5 (net benefit)

Milestones

2 milestones2 actions
Mar 3, 2026Senate

Read twice and referred to the Committee on Small Business and Entrepreneurship.

Mar 3, 2026

Introduced in Senate

Source Information

Document Type

Congressional Bill

Official Title

Contract Our Veterans Act of 2026

Bill NumberS 3964
Congress119th Congress
ChamberSenate
Latest ActionRead twice and referred to the Committee on Small Business and Entrepreneurship.

Sponsor

Cosponsors

(1)
D: 1

Analysis generated by AI. Always verify with official sources.