Walz looks to simplify tax credits for hiring vets
To qualify for the credit, employers must hire veterans who left military service in the last 5 years. The bill is aimed at streamlining the certification process for recently returning veterans who qualify for the Work Opportunity Tax Credit. The measure would allow veterans to get certification from the U.S. Department of Defense without going through the current, lengthy certification process. Service members would also receive training on how to market themselves to employers in terms of the tax credit.
From 2006 to 2009, unemployment among male veterans between the ages of 18 to 24 has climbed more than 11 percentage points to more than 21 percent, according to a news release. For female veterans of the same age, unemployment rates have risen by 7.5 percentage points to 20 percent.
"When the brave men and women who serve our nation in uniform leave to deploy overseas, they don't just leave behind their family and friends, often times they leave behind jobs and livelihoods as well. After the sacrifices they have made, making sure that they have access to a good paying job to support their families when they return is the least we can do," Walz is quoted as saying in the news release.
Walz serves on the House Veterans Affairs Committee. Senate Finance Chairman Max Baucus, D-Mont., introduced identical legislation in the Senate.