President Obama will ask Congress for aid for unemployed veterans.
The main features of Obama’s proposal, according to administration officials, are two tax credits for companies that hire unemployed veterans:
– A “Returning Heroes” tax credit for 2012-2013. Companies that hire unemployed veterans would receive a $2,400 tax credit. That tax credit would increase to $4,800 if the veteran has been unemployed for six months or more.
– A two-year extension of the “Wounded Warriors” tax credit, which gives companies that hire veterans with service-related disabilities a $4,800 credit. If the veteran has been unemployed for six months of more, the tax credit increases to $9,600.