The jobs legislation approved Wednesday creates tax breaks for companies hiring jobless veterans and beefs up vets’ job-training and counseling programs.
The legislation will give companies a $5,600 tax credit for each veteran hired after being unemployed for at least six months. A smaller tax credit would be offered for bringing on veterans who had been jobless for fewer than six months. A $9,600 tax credit for hiring out-of-work veterans with service-related disabilities is also included.
The legislation represents roughly $2 billion of the $447 billion price tag for the jobs bill Obama proposed in September. The veterans’ programs would be financed mostly by extending a fee the Veterans Affairs Department charges to back mortgages.
Associated Press, McClatchy