New Measure Simplifies Tax Breaks for Businesses Who Hire Returning Veterans

Washington D.C. – Today, Tim Walz introduced legislation to help returning veterans find jobs once they return home.  Walz’s bill would provide a simplified tax credit for employers who hire servicemen and women who’ve left the service in the last 5 years.

“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,” said Walz, a member of the House Veterans’ Affairs Committee. “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.”

The bill will provide employers with a simplified certification process for recently discharged veterans who qualify for the Work Opportunity Tax Credit.  As a result, our servicemen and women who have been recently discharged will be able to provide documentation from the Department of Defense without having to go through the credit’s current lengthy certification process.  The Military will also educate service members on how to market themselves for employers in relation to the tax credit.

From 2006 to 2009, the unemployment rate among male veterans ages 18-24 increased by 11.5 percentage points to 21.7%. Among female veterans of the same age, the unemployment rate increased by 7.5 percentage points to 20 percent.

“Congressman Walz has been a tremendous leader on veterans’ issues and a committed partner to IAVA. Veterans nationwide thank the Congressman for his focus on fighting veteran unemployment. This legislation is incredibly important for veterans returning home to such a tough economy and will go a long way towards reducing the climbing unemployment rate among Iraq and Afghanistan-era veterans," said IAVA Legislative Associate Tim Embree.

Walz introduced the House version of the bill today as Montana Senator and Senate Finance Chairman Max Baucus, introduced identical legislation in the Senate.

“This bill will make a difference in the lives of our men and women in uniform,” Baucus said.  “These brave Americans have put their entire lives on hold to protect our nation. They are husbands and wives, children and parents- and they are some of the most noble among us.  As they return home, this bill is just one way to ensure we are doing all we can to help them get back to their lives.”