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Obama To Offer Tax Credit For Hiring Vets

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From the UP

WASHINGTON, Aug. 5 (UPI) -- Spurring U.S. companies to hire veterans can help men and women returning from war zones move into routine civilian jobs, a senior White House adviser said.

"The president feels that our veterans ... deserve all the support that we as a country can give them to find new careers," a White House economic adviser told The Washington Examiner as President Barack Obama was to unveil a plan that offers tax credits to companies that hire veterans.

The proposal, which Obama was to make at the Washington Navy Yard at 11 a.m. EDT Friday, will call for a

$4,800 "Returning Heroes" tax credit to companies that hire veterans unemployed for six months or more and a

$2,400 tax credit if they hire one without a job for less than six months, the adviser told the Examiner.

Companies would get a $9,600 "Wounded Warriors" tax credit -- an extension of an existing program -- if they hired a disabled vet who was unemployed for six months or more or $4,800 if the vet was without a job for lessĀ  than six months, the adviser said.

The administration estimates the cost of the tax credits will be $120 million over two years and will be funded from the existing budget.

Obama was expected to order the Defense and Veterans Affairs departments to head up a task force on
reforms, including a "reverse boot camp" to help veterans make the transition to civilian careers.

The U.S. Office of Personnel Management would be directed to publish a manual showing business managers how they can locate veterans with skills and training that match open positions, CNN reported. And the U.S. Labor Department would unroll an "enhanced career development and job search service package."

Obama planned to challenge private-sector businesses to hire or train 100,000 unemployed veterans or their spouses during the next two years.

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