Obama plan: Incentives to hire veterans, jobless

AP News
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Posted: Sep 08, 2011 7:34 PM
Obama plan: Incentives to hire veterans, jobless

President Barack Obama is proposing tax incentives to encourage businesses to hire unemployed and wounded veterans as well as jobless Americans who have been without work for more than six months. The plan is part of an ambitious $447 billion plan to boost the economy and increase hiring.

Under the plan, the government would provide a $5,600 tax credit to employers who hire unemployed veterans. It also would provide a $9,600 credit to employers who hire workers with a service-related disability. The plan would apply to those veterans who have been looking for work for more than six months.

Obama is also proposing a $4,000 tax credit for businesses that hire people who have been searching for work for more than six months.