Tax credit to help veteran unemployment

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Tax credit to help veteran unemployment
Jason Browder, second from right, awaits guidance from Louise Wood as she reviews the former active-duty Air Force senior airman's application submitted at the Hiring Our Heroes job fair June 23, 2011, in New York City. U.S. Air Force photo/Tech. Sgt. Jennifer Lindsey

Although the national unemployment rate continues to decrease slightly, the unemployment number for veterans keeps climbing. In effort to reduce the veterans unemployment rate, Rep. Jeff Miller, chairman of the House Committee on Veterans' Affairs, recently introduced the Tax Credit to Hire Veterans Act (VOW) of 2011 (H.R. 2443) - a piece of legislation that would complement the Veteran Opportunity to Work Act of 2011 (H.R. 2433).

The VOW Act would provide small businesses, including veteran-owned businesses, who hire unemployed veterans with a tax credit toward capital equipment purchases.

"Unemployment is a huge issue with The American Legion, especially with the high numbers of servicemembers returning from overseas," said Joe Sharpe, director of the Legion's Economic Division. "We definitely support legislation that addresses those issues and helps our veterans find gainful employment."

With the tax credit being a win-win situation for both veterans and small businesses, Miller foresees a reduction in veteran unemployment to below 5 percent within the next two years. However, to ensure that the hiring of veterans is genuine and the tax credit is not being abused, the legislation features several protection laws.

A legislative hearing on the VOW Act will be held on July 15, 2011 at 10 a.m. For more information, please click here.

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dzign2000

July 9, 2011 - 8:41am

I too am a Vietnam Vet and leave this off applications because it dates me, not due to the stigma of that particular conflict. Age discrimination is more a hindrance than the Nam issue for me. So after 2 years of being unemployed I have resigned myself to SS and what retirement [401K] I have in the bank. Now the fools on the HILL want to monkey around with Soc. Security. What won't they think of next!!??

Provided

July 8, 2011 - 5:00pm

I'm an 18 month unemployed disabled Vietnam Era Veteran and thought that Veterans Organizations exist to help veterans. These are big enough organizations that could tackle this problem of unemployed veterans with great resources and force. I am also a lifetime member of Disabled American Veterans and Vietnam Veterans of America. I have also reported to all three organizations that most applications for employment are now done online. More often than not under military service there is a drop down menu that lists Veteran, Vietnam Era Veteran, and Disabled and you choose the correct response. The same was on an application that I filled out in person last week for a position. No other war or conflict is ever listed other than Vietnam Era. I feel that as we were hated then we are discriminated to this day. This is the type of issues our Veterans organizations should be representing us in. Sure, I have the right not to tell but then the application reads "Refused to answer".

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