|Braley Lauds House Passage of Veterans Hiring Tax Credits|
|News Releases - Business, Economy & Finance|
|Written by Jeff Giertz|
|Monday, 21 November 2011 16:18|
For months, Braley has pushed for tax credits for employers hiring veterans; House passes unanimously
Washington, DC – Rep. Bruce Braley (IA-01) applauded the House passage this afternoon of the Returning Heroes and Wounded Warriors tax credits, which passed the House with a unanimous vote minutes ago. These provisions would create new tax credit programs to spur the hiring of unemployed veterans and directly help hundreds of Iowa National Guard members who have returned home from overseas deployments. In August, Braley introduced the Combat Veterans Back to Work Act, a precursor to the tax credit programs that passed today.
“The best way to thank our veterans and tell them ‘good job’ is to help them find a good job when they return home,” Braley said. “I’ve been working for months to promote the idea of tax credits for businesses that hire returning veterans, and today’s bipartisan vote shows that this issue has big support on both sides of the aisle.
“The tax credits passed by the House today will boost the hiring of veterans. Other provisions will improve resources available for vets to translate their military skills into the civilian workforce and provide veterans with new tools to help them search for a job. Unemployment among returning Iraq and Afghanistan veterans is three times the national average. The bill passed today will help bring those numbers down.”
Late this summer, 3,500 members of the Iowa National Guard returned from a deployment to Afghanistan. More than 600 of these men and women reported being out of work when they returned home – equivalent to an unemployment rate of over 17 percent. Iowa’s unemployment rate in September was 6.0 percent; the national unemployment rate last month was 9.0 percent.
In response to high unemployment rates for veterans, in August, Braley introduced the Combat Veterans Back to Work Act, a bill that provides a payroll tax break for businesses who hire a current member of the National Guard or Reserve or any unemployed veteran who has returned from deployment within the last 18 months.
The Returning Heroes and Wounded Warriors tax credits build on Braley’s bill, providing tax credits for employers that hire unemployed veterans and long-term unemployed veterans with service-connected disabilities. The American Legion, Disabled American Veterans, Iraq and Afghanistan Veterans of America, and the Veterans of Foreign Wars have all endorsed the bill.
Yesterday, Braley released a letter sent to Republican and Democratic House leaders urging them to allow the House to vote on the tax credits immediately.
The bill will now be sent to the President for his signature.
Braley is the highest ranking Democrat on the House Veterans Affairs Subcommittee on Economic Opportunity.# # #
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