Obama Announces Aid Initiative to Help Vets Find Work

White House photo: Pete Souza

President Obama announced three new initiatives to help veterans find jobs during a speech from the Rose Garden Monday and asked Congress to pass two provisions in his jobs proposal that would grant businesses tax credits for every unemployed veteran hired.

The Returning Heroes Tax Credit would cover 40 percent of:

  • $6,000 of wages for businesses who hire veterans who have been unemployed at least 4 weeks
  • $14,000 of wages for employers who hire veterans who have been unemployed longer than 6 months

The Wounded Warrior Tax Credit would maintain the existing tax credit (up to $4,800) for service-disabled veterans, and offers a new credit of 40 percent of the first $24,000 of wages (up to $9,600) for firms that hire service-disabled veterans who have been unemployed longer than three months.

The new White House initiatives launched under the executive order include:

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