[Congressional Record Volume 152, Number 95 (Wednesday, July 19, 2006)]
[Senate]
[Pages S7900-S7901]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




     REAUTHORIZATION OF THE NATIONAL VETERANS BUSINESS DEVELOPMENT 
                              CORPORATION

  Mr. AKAKA. Mr. President, I am pleased to be an original cosponsor of 
a bipartisan bill to reauthorize the National Veterans Business 
Development Corporation, commonly known as the Vets Corp. This bill, 
the Veterans Corporation Reauthorization Act of 2006, was developed in 
a cooperative fashion by members of the Small Business and Veterans 
Affairs' Committees, in conjunction with Senator Talent who was 
involved in the original establishment of the Vets Corp during his 
tenure in the other body.
  The Vets Corp has a crucial mission--to foster entrepreneurship and 
business opportunities for veterans, with a special focus on service-
disabled veterans. During this time of conflict abroad, this mission is 
extremely relevant. A seamless transition from military to civilian 
status requires that we give our veterans the tools necessary to 
succeed in their post-military lives. The Vets Corp seeks to do just 
this for veteran-owned small businesses.

[[Page S7901]]

  Created by Congress in 1999, the Vets Corp had a slow start. While I 
believe that the new Vets Corp leadership is turning things around, 
there are some lingering concerns about the Vets Corp's funding and 
mission. I am hopeful that this legislation we are introducing today 
will help remedy these concerns. Under the terms of the legislation, 
the Vets Corp would be provided matching funds instead of a straight 
allocation. In addition, this bill would clarify the purpose of the 
organization as well as improve the structure of their advisory board.
  Mr. President, I am proud to be a cosponsor of this bill. I applaud 
the hard work of Senators Kerry, Snowe, Talent, and their staffs in 
crafting this bipartisan bill. I hope my colleagues will support this 
bill and I urge its speedy passage.

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