Contract Our Veterans Act of 2024

HR 7401, the Contract Our Veterans Act of 2024, requires the Department of Defense to set annual contracting goals for small businesses owned and controlled by veterans (including service-disabled veterans) in defense procurement. It mandates that these goals match the existing governmentwide targets for service-disabled veteran-owned businesses under the Small Business Act. The bill allows contracting officers to use sole-source awards or restricted competition for these businesses if they meet specific criteria, such as being listed in a federal database and offering best value to the government. This directly affects Department of Defense contractors and veteran-owned small businesses seeking federal contracts.