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Unemployed veterans and Federal Contractors

The Senate has unanimously passed a bill to help unemployed veterans seeking jobs as well as federal contractors facing a new tax burden in 2013.  This is the first and so far only piece of President Obama's jobs package to get out of the chamber. The House is expected to take up the bill and pass it immediately. The bill gives employers tax credits of up to $5,600 for hiring veterans who have been unemployed longer than six months. It would also give employers a tax credit of up to $9,600 for hiring long-unemployed disabled veterans.  According to the White House, the October unemployment rate for veterans who left the military after 2001 was 12.1%, leaving about 240,000 veterans out of work.  The bill also expands an education and jobs retraining program for unemployed veterans. And it creates a new project that directs the Labor Department to figure out ways for veterans to use their specialized training to get licenses in different fields in the civilian work force.  Stay tuned….

Nadine

This information should not be construed as “legal advice” for a particular set of facts or circumstances. It is intended only to be a practical guide for participants familiar with this subject. Users should seek appropriate legal advice tailored to address their specific situation.