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For Immediate Release
Wednesday, May 16, 2007

McCotter Introduces VETS Act Legislation

Bill allows income tax credit for companies hiring veterans

WESTLAND - Representative Thaddeus G. McCotter (MI-11) introduced legislation, May 16, calling on Congress to amend the Internal Revenue Code to allow employers an income tax credit for hiring U.S. Military veterans.

The VETS Act would provide a one-time credit to employers against income tax for hiring military service personnel who have been honorably discharged from military service.  The credit would equal 40% of the veterans' first year wages, or up to 50% for disabled veterans.

"This bill ensures our valiant veterans' service to our nation continues when they come home," said McCotter, who is the Chairman of the House Republican Policy Committee.  "Encouraging companies to hire veterans is not just the smart thing to do; it is the right thing to do. By facilitating their transition to civilian life, we further their good works on behalf our country and our communities."

The bill has several original co-sponsors, Rep. John Carter (R-TX), Candice Miller, (R-MI), Stevan Pearce (R-NM), and Jon Porter (R-NV).

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