WASHINGTON, D.C. ñ Today, Reps. Ted Poe (TX-02) and Mike Thompson (CA-05) introduced the Veterans Back to Work Act of 2013. This legislation would make the veteransí tax credit permanent and make it easier for employers to take advantage of it.
The unemployment rate for veterans of the Iraq and Afghanistan wars was 9.9% last year. For female veterans, it was 12.5%, and for male veterans ages 18-24, it jumped to 20%. Thatís simply unfortunate and unacceptable. Congress passed a veteransí tax credit to help transition our nationís warriors back into the workforce. While well intentioned, it was temporary, had complicated paperwork and took too long for employers to receive the tax credit.
The Veterans Back to Work Act of 2013 seeks to fix these complications by making the tax credit permanent, reducing the paperwork, and allowing employers to have the choice to collect the credit at the end of each quarter or at the end of the year, whatever makes the most sense for them.
ìItís a national tragedy to have a high unemployment rate for our nationís warriors,î said Poe. ìAfter fighting in war, the last thing a veteran should have to worry about is an unemployment line. This Veterans Back to Work Act incentivizes the hiring of our veterans with a permanent tax credit and makes the paperwork easier for businesses to do so.î