WASHINGTON – Representative Thaddeus G. McCotter (R-Livonia) has introduced legislation calling on Congress to amend the Internal Revenue Code to allow employers an income tax credit for hiring combat veterans.
McCotter discussed the legislation, entitled the Veterans’ Employment Transition Support (VETS) Act, with local veterans and business owners at a press conference Monday at Veteran’s Haven in Wayne.
The VETS Act would provide a one-time credit to employers against income tax for hiring military service personnel who have been honorably discharged and have served in a combat zone or hazardous duty area. The credit would equal 40% of the veterans’ first year wages, or up to 50% for disabled veterans.
The bill has 10 original co-sponsors, including Phil English (R-PA), Don Manzullo (R-IL), Candice Miller (R-MI), Stevan Pearce (R-NM), Rick Renzi, (R-AZ), Silvestre Reyes (D-TX), Bill Shuster (R-PA), John Sullivan (R-OK), John Sweeney (R-NY), and Walter B. Jones (R-NC).
“This bill ensures our valiant veterans’ service to our nation continues when they come home,” McCotter said. “By facilitating their transition to civilian life, we further their good works on behalf our country and our communities.”
“I look forward to working with my Congressional colleagues on this and a host of other proposals to ensure our veterans receive their full measure of our support as they return to their loved ones.”
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