Contained In The Jobs Act: Relief For Veterans As Veteran Unemployment Climbs
by: Ed Mayberry, November 8, 2011 7:11:27 pm
Recently-released federal data shows that, during the past two months, the unemployment rate for post-9/11 veterans has climbed to more than three percentage points above the civilian unemployment rate. That has Veterans Affairs Secretary Eric Shineski worried.
"Right now, over 850,000 veterans are unemployed. The unemployment rate for Iraq and Afghanistan veterans, however, is 12.1 percent. During the next five years, more than a million veterans are likely to leave the military and come home looking for jobs, so it's important that we get this launched now and do everything we can to begin assisting them."
Secretary of Labor Hilda Solis urges Congress to approve the Returning Heroes Tax Credit and the Wounded Warrior Tax Credit contained in the American Jobs Act.
"The President's jobs bill will provide tax relief for up to $5,600 for firms that hire veterans, and up to $9,600 for employers that hire veterans with service-related disabilities."