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Obama Trying to Aid Veterans with Tax Cuts

With the veteran unemployment rate higher than the 9 percent national average, it is going to be exceedingly difficult for the remaining 40,000 troops in Iraq to find jobs when they return. As covered last week, veterans in Idaho are already having a tough time finding work. On top of that, experts say that it is much easier for veterans to return to “civilian life” if they have a job when they come back.

To help combat the struggle veterans may have when they come back, Obama is pushing lawmakers to pass two tax credits that were part of his jobs bill, reports Reuters. The first bill is called the Returning Heroes Tax Credit and gives firms that hire unemployed veterans a maximum credit of $5,600 per veteran. The other bill, the Wounded Warriors Tax Credit “offers firms that hire veterans with service-connected disabilities with a maximum credit of $9,600 per veteran.”

Obama’s initial proposal of his $447 billion jobs bill was shot down by Republicans mainly because the money for the bill was to come from raising the taxes of America’s wealthy class. Even though the bill in its entirety may have been shut down, Obama is working hard to get the main components of this bill passed.

A White House official announced that Obama’s bill for veterans includes a new online service to help veterans find work, creating a veterans job bank, and a veterans “gold card” granting them special services and care at career centers.

The average unemployment rate for returning veterans is currently 11.7 percent with the national average at 9.1 percent in September.

SOURCE: Reuters

Nicole Nicholson

Nicole is the Content Editor for Spark Hire and mainly writes for and edits the work for the Spark News blog. She graduated in 2010 with a BA in Journalism from DePaul University in Chicago, Illinois. She has a passion for writing, editing, and pretty much anything to do with content. In her free time she frequents the Chicago music scene and writes reviews on shows for her own personal blog. Connect with Nicole and Spark Hire on Facebook and Twitter