Help for veterans, or pandering?
Aaron Schock is co-sponsoring legislation that he says will help veterans enter the business world:
Help Veterans Own Franchises Act will incentivize franchisors to offer veterans a discounted franchise fee
Schock and Boswell Introduce Legislation to Help Veterans Own Small Businesses
Washington, D.C. – Congressmen Aaron Schock (R-IL) and Leonard Boswell (D-IA) introduced legislation today that will help veterans purchase small businesses. The Help Veterans Own Franchises Act establishes tax incentives for franchisors who offer qualified veterans a discounted franchise fee.
“While franchise’s provide emerging entrepreneurs with important risk protections, a ready-made clientele, additional resources and guidance on how to operate a successful business within their community, these benefits are often outside the reach of veterans due to expensive franchise fees,” said Schock, a member of the Small Business Committee. “By providing an incentive for franchises to discount the franchise fee for veterans, we can grow our nation’s small businesses’ and stimulate economic growth.”
“I am proud to introduce this bipartisan legislation to spur economic growth, create jobs and give life to the entrepreneurial spirit,” said Congressman Leonard Boswell, a 20 year veteran of the US Army. “This thoughtful legislation will help veterans in Iowa and across the nation become business owners. As a new generation of veterans returns home from Iraq and Afghanistan, I hope others in Congress will join me and my Republican colleague from Illinois in supporting this legislation putting Americans to work and making the dream of owning a business a reality for these brave young Americans.”
“As a new franchise small-business owner who has just launched a business in one of the most challenging economic environments this country has faced in a long time, the support this legislation offers is encouraging, especially to veterans who are preparing to re-enter civilian life,” added Navy veteran and Dunkin Brands franchisee Peter Turner. “We’re eager to begin the next chapter of our lives and take full advantage of the opportunities that we’ve helped defend while in uniform. Support such as these tax incentives gives us even more confidence to become entrepreneurs.”
Since 2002, over 1,200 veterans have purchased a franchise. The Help Veterans Own Franchises Act further encourages veteran small business franchise ownership by:
o Incentivizing franchisors to offer discounted franchise fees to qualified veterans
o Establishes a tax credit worth 50% of the total franchise fee discount offered by the franchisor to the franchisee
o The franchisor must use their existing franchise fee deal, offered to all individuals, as the base calculation
o The credit would be capped at $25,000 per unit
o Establishing a tax credit for the franchisee Veteran, equal to 25% of the remaining franchise fee.
o Eligibility for both the franchisor and franchisee is capped at franchise fees of $100,000.
I like THIS idea better than what we seem to be doing, and that’s just offering them health benefits at poorly-run VA hospitals, a free education that may or not help them, and giving them extra points on civil service exams.
Billy Dennis is a former reporter and editor at small daily and weekly newspapers in Illinois and Missouri. He comments on media, news and politics. He also owns and operates 
This is good, I believe their is also a program recently put in place that allows for an enlistment option that provides somewhere around $50,000 to qualified veterans either for a down payment on a house or for cost of starting up a business.
[...] veterans with tax incentives for starting franchises. It’s also nice to see bloggers like the Peoria Pundit in support of it as [...]