Obama: Companies Who Hire DisabledVets Will Get Tax Credit

Last week at the Washington Navy Yard, President Barack Obama once again addressed the problem of veteran unemployment – informing listeners that a number of new changes will take place to help both veterans who come back from active duty unharmed and those who now struggle with mental and physical disabilities to find employment and peace. He spoke to a crowd of hundreds, backed by a number of recent veterans who have struggled to support themselves after returning from Iraq and Afghanistan.

Specifically, Obama said that he would like to see the private sector hire one hundred thousand veterans in the next two years – and that the two keys to accomplishing this goal would be “reverse boot camp” job training for those returning from overseas as well as a significant tax break for companies who hire disabled veterans. 

The private sector tax incentives would award companies with between a $2,400 credit and a $9,600 credit for hiring unemployed veterans. The largest tax credits would go to companies who hired veterans with service-related disabilities who have been unemployed for over six months. The administration says that they believe the new program will cost $120 million in the next two years, though they would be happy if they needed to pay out more – because it would mean veterans were getting the work opportunities they deserve.

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by Paul B. Burkhalter
Managing Partner of Morgan & Weisbrod, Board Certified in Social Security Disability Law.

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