Late last week, the U.S. Senate voted 95-0 to pass the Veterans Opportunity to Work (VOW) to Hire Heroes Act.

The Act would provide tax credits to businesses that hire unemployed and/or wounded veterans. It also would help ensure that military personnel transitioning to civilian life receive a variety of training and rehabilitation benefits to help them find jobs.

More specifically, the Act would provide tax credits of up to:

  • $2,400 for employers that hire veterans who have been unemployed more than four weeks but less than six months;
  • $5,600 for employers that hire veterans who have been unemployed for more than six months; and
  • $9,600 for employers that hire veterans with service-connected disabilities who have been unemployed for more than six months.

These credits were originally part of the President’s American Jobs Act. While there are still technical issues that must be worked out, it’s anticipated that the measure will eventually be approved by the full Congress. The President has indicated that he will sign it into law once it makes it to his desk.

Stay tuned for more.