November 11, 2011 U.S. Senate approves jobs bill for returning vets
The U.S. Senate has passed legislation meant to address the high unemployment rate among returning veterans.
New York Sen. Charles Schumer, a cosponsor, says the unemployment rate for veterans returning from Iraq and Afghanistan hovers near 15 percent in some counties.
The bill, approved 94-1, would provide tax credits for employers hiring veterans, as well as job training to help vets return to the work force.
The Hire Heroes Act would provide companies that hire a vet who has been looking for work for at least four weeks to get a tax credit of $2,400.
Businesses that hire a vet who has been looking for a job for at least six months would get a $5,600 tax credit.
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