This bill aims to significantly increase the participation of small business concerns owned and controlled by veterans in federal procurement contracts. It amends the Small Business Act to establish a new government-wide goal of not less than 5 percent for the total value of all prime contract and subcontract awards for these businesses each fiscal year. This goal is intended to ensure that veteran-owned businesses receive a greater share of federal contracts. To achieve this goal, the legislation introduces new contracting authorities for veteran-owned small businesses. It permits federal contracting officers to award sole source contracts to eligible veteran-owned small businesses under specific conditions, such as a fair and reasonable price and the business being a responsible source. Additionally, it mandates restricted competition for contracts where there is a reasonable expectation of receiving offers from two or more veteran-owned small businesses at a fair and reasonable price. The bill further integrates veteran-owned small businesses into various existing federal procurement frameworks. It expands reporting requirements to include detailed metrics on contracts awarded to these businesses, covering sole source, restricted, and unrestricted competitions. Moreover, it ensures that veteran-owned small businesses are considered within programs such as the Best in Class Addendum, Mentor-Protege reporting, and limitations on subcontracting, thereby strengthening their overall inclusion in federal contracting initiatives.