Obama Urges Congress To Pass Tax Credits For Veterans
November 07 2011 - 1:02PM
Dow Jones News
President Barack Obama on Monday urged Congress to pass a
provision of his jobs bill that would help veterans find jobs and
announced new measures aimed at helping returning soldiers find
work.
President Obama, speaking in the White House Rose Garden, said
there's no good reason for lawmakers to oppose the tax credits.
"Not one. Our veterans did their jobs; it's time for Congress to do
theirs," Obama said.
The president's $447 billion jobs plan, the American Jobs Act,
includes tax credits for employers who hire veterans. A "Returning
Heroes" tax credit would provide employers with a credit of $4,800
for hiring veterans who face unemployment of six months or longer.
It also includes expanding the "Wounded Warriors" tax credit so
companies will get $9,600--instead of the current rate of
$4,800--for hiring soldiers who have a service-related
disability.
The tax credits are expected to be voted on this week in the
Senate, though it's unclear exactly how they would be paid for.
White House spokesman Josh Earnest said he expects it will be paid
for in a way that will satisfy Republicans and Democrats.
The House last month passed a bill to help veterans find jobs.
That legislation includes training and credentialing programs to
help veterans transition into jobs.
President Obama also announced new Web tools to help soldiers
determine how their work on the field would apply in civilian
life.
The new measures are part of a broader effort by the Obama
administration, led by First Lady Michelle Obama and Dr. Jill
Biden, to help veterans and their families. In October, the Obama
administration announced that companies such as ConAgra Foods Inc.
(CAG) and Tyson Foods Inc. (TSN) are committing to hiring 25,000
veterans and military spouses by the end of 2013.
Friday is Veterans Day, and the president and first lady are
scheduled to participate in a wreath-laying ceremony at Arlington
National Cemetery.
-By Jared A. Favole, Dow Jones Newswires; 202-862-9256;
jared.favole@dowjones.com
ConAgra Brands (NYSE:CAG)
Historical Stock Chart
From May 2024 to Jun 2024
ConAgra Brands (NYSE:CAG)
Historical Stock Chart
From Jun 2023 to Jun 2024