Senate Dem amendment adds comprehensive veterans' training language, tax credits

Senate Democrats this week will offer an amendment to a bill repealing the 3 percent withholding rule that adds a new section requiring the federal government to take several steps aimed at helping returning veterans to transition to civilian employment, and also adds a tax credit for companies that hire veterans.

The amendment, offered by Senate Majority Leader Harry Reid (D-Nev.), adds a new "Vow to Hire Heroes" section to the bill, which broadly boosts retraining assistance for veterans. It also requires a study on how veterans with certain skills learned in the armed forces can find related jobs in the private sector.

The amendment extends training programs for veterans who have exhausted their unemployment benefits.

It also includes a new "Returning Heroes and Wounded Warriors Work Opportunity Tax Credits" section, which extends tax credits for companies that hire veterans. This section is paid for by extending for five years a fee charged to veterans for a home mortgage program. That fee was due to expire on Nov. 18.

The amendment is expected to be approved by the Senate in a Thursday vote that will require 60 votes for passage.

The Senate on Thursday is also expected to vote on another amendment offered by Sen. John McCain (R-Ariz.), which would add McCain's "Jobs Through Growth Act" to the withholding repeal bill. However, that amendment is not expected to win the 60 votes it needs.

Among other things, McCain's broad proposal includes a sense of the Congress that a balanced budget to the Constitution is needed, makes it easier for the government to rescind unspent funds, reduces taxes for individuals and companies, repeals last year's healthcare law and the Dodd-Frank financial reform law, limits the authority of the National Labor Relations Board, expands access to offshore oil and includes numerous provisions aimed at easing federal regulations related to the environment and other areas.

— This story was updated at 10:26 a.m. to include information on the Republican amendment.