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Obama signs unemployed veterans bill
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11/21/11 12:59 PM ET
President Obama signed into law Friday a measure that will give tax breaks to companies that hire unemployed veterans.
The bill is the first part of Obama’s jobs plan to become law. While Republicans have staunchly opposed much of the president’s plan, this slice passed unanimously in both the House and Senate.
The law will offer businesses a tax credit of up to $2,400 for hiring unemployed veterans and up to $5,600 for hiring those unemployed longer than six months. Businesses can also earn up to $9,600 in tax incentives for hiring veterans with service-related disabilities.
The bill also repealed a 3 percent withholding tax on government vendors.
