On Thursday, the Senate has now passed their version of the Hire Heroes Act, the Veterans Opportunity to Work to Hire Heroes Act, by a margin of 94-1. The lone dissenter was Senator Jim DeMint (R-S.C.).
Next, the House of Representatives will either pass the amended measure or the bill will go to a conference between the House and Senate to decide its final form.
This bill would provide employers with a tax credit of up to $5,600 for hiring veterans who have been unemployed for at least six months, as well as a $2,400 credit for hiring veterans who have been unemployed for more than four weeks, but less than six months.
Additionally, a credit of up to $9,600 will increase the existing Wounded Warriors Tax Credit for employers that hire veterans with service-connected disabilities who have been unemployed for at least six months.
The measure will also direct the Secretary of Veterans Affairs and the Secretary of Labor to establish a veterans retraining assistance program. This extends the Wounded Warrior Act by two years, providing further rehabilitation and vocational benefits to members of the armed forces with severe injuries or illnesses. Those that have exhausted rights to unemployment benefits under state law may also receive additional help.
Stay with VA Benefit Blog for more coverage of the Hire Heroes Act. Check out our earlier coverage of this vital veterans issue.
Photo thanks to Zol87 under creative commons license on Flickr.