Ninety-four Senators did the right thing by voting to pass tax credits that will help encourage businesses to hire America’s veterans. Both credits are pieces of the American Jobs Act, President Obama’s plan to put people back to work and grow the economy.
Millions of Americans are looking for work right now, but veterans are particularly vulnerable. More than 850,000 veterans were unemployed in October. The unemployment rate for post 9/11 veterans is 12.1 percent, compared to 9.0 percent nationally.
President Obama believes that no veteran should have to fight for a job after fighting for our nation overseas. That’s why he introduced the Returning Heroes Tax Credit, which provides firms that hire unemployed veterans with a maximum credit of $5,600 per veteran. He also introduced the Wounded Warriors Tax Credit, which offers firms that hire veterans with service-connected disabilities with a maximum credit of $9,600 per veteran.
Today we honor the service and sacrifice of all the veterans who have served in our nation’s military. But we must continue to do right by these heroes who have given so much by helping them find jobs so that they can take full advantage of the opportunity they fought to defend.