Hire a Vet, Collect Tax Credit!
Just wanted to update my followers on this pending legislation.
The U.S. Senate voted Thursday on the "Veterans Opportunity to Work (VOW) to Hire Heroes Act of 2011," which would provide tax credits to employers that hire unemployed veterans and increase existing tax credits for employers that hire veterans with service-related disabilities. The act also would ensure that all military service members transitioning to civilian life receive the job training skills they need to find a job.The act would provide a tax credit of up to $5,600 to companies that hire veterans who have been looking for a job for more than six months and a tax credit of $2,400 to companies that hire veterans who have been unemployed for more than four weeks but less than six months. If a company hires a veteran with service-related disabilities who has been looking for a job for more than six months, the company could receive a tax credit of up to $9,600.The legislation also would make the Transition Assistance Program—an interagency project coordinated by the U.S. departments of Defense, Labor, and Veterans Affairs—mandatory for service members transitioning to civilian life. TAP offers career counseling to help military personnel secure 21st century jobs and helps older veterans of past wars by providing unemployed veterans with up to a year of additional benefits that can be used on expanded education or training programs.The tax credits for hiring veterans were originally part of President Obama's "American Jobs Act." Last week, Senate Minority Leader Mitch McConnell (R-KY) announced that he would vote for the act. The U.S. House of Representatives, which was in recess last week, is expected to take up the legislation upon returning to Capitol Hill, and is anticipated to pass the measure. President Obama has indicated that he will sign the legislation.
-press release from ASA
Happy Thanksgiving everyone!
Pamela Jones
Partner and Senior Recruiter
Concourse Group
4343 Concourse Drive Ste 320
Ann Arbor, MI 48108
Dir 734-926-3587
Cel734-635-3852
