In Cedar Rapids, Braley Touts Benefits of Veterans Hiring Tax Credit

Nov 21, 2011 Issues: Economy and Jobs, Veterans Affairs

For months, Braley has pushed veterans hiring tax credit; signed into law by President Obama today
Cedar Rapids, IA – Today in the lobby of the Veterans Memorial Building in Cedar Rapids, Rep. Bruce Braley (IA-01) joined veterans and officials from Alliant Energy to tout the benefits of two veterans hiring tax credits passed by Congress last week and signed into law by the President today.  For months, Braley has been on the front lines of the effort to provide tax credit incentives for businesses that hire unemployed veterans.
The Returning Heroes and Wounded Warriors tax credits will create new tax credit programs to spur the hiring of unemployed veterans and directly help hundreds of Iowa National Guard members who have returned home from overseas deployments.  President Obama signed the tax credits into law this morning in a White House signing ceremony.
“The best way to thank our returning veterans and tell them ‘good job’ is to help them find a good job when they come home,” Braley said. “Unemployment among returning Iraq and Afghanistan veterans is three times the national average.  That’s why I’ve worked for months with Republicans and Democrats to promote tax credits for businesses that hire returning veterans, like Alliant Energy here in Cedar Rapids.
“The veterans hiring tax credit bill sitting on the President’s desk will get more veterans back to work.  Tax credits will help businesses bring on needed workers.  Other provisions will improve resources available for vets to translate their military skills into the civilian workforce and provide veterans with new tools to help them search for a job.”
In response to high rates of veterans unemployment, in August, Braley introduced the Combat Veterans Back to Work Act, a precursor to the bill sitting on Obama’s desk that provides a payroll tax break for businesses who hire a current member of the National Guard or Reserve or any unemployed veteran who has returned from deployment within the last 18 months.
Late this summer, 3,500 members of the Iowa National Guard returned from a deployment to Afghanistan. More than 600 of these men and women reported being out of work when they returned home – equivalent to an unemployment rate of over 17 percent. Iowa’s unemployment rate in September was 6.0 percent; the national unemployment rate last month was 9.0 percent.
In October, Braley hosted a House Veterans’ Affairs Subcommittee on Economic Opportunity field hearing in Waterloo to focus on veterans’ unemployment.  He is the highest ranking Democrat on that subcommittee.