(Hartford, CT) – Senator Richard Blumenthal (D-CT) released the following statement this afternoon regarding President Obama’s proposed $120 million in tax cuts for businesses that hire veterans returning from Iraq and Afghanistan:
“People in Connecticut and across the country rightly expect job creation to be Congress’ top priority as our economy continues to recover, and I applaud the President’s proposal to provide tax credits to companies that hire veterans, both boosting our economy and providing our already highly-skilled veterans of Iraq and Afghanistan with employment opportunities as they look to join the workforce. Incentives like these tax credits are crucial not only to economic growth and job creation, but also to helping fulfill our obligation to the men and women in uniform who have served and sacrificed so greatly as they reintegrate into civilian life.”
Blumenthal is a co-sponsor of the Veteran Employment Transition Act of 2011, which would allow more veterans’ employers to take advantage of the work opportunity tax credit.
President Obama has proposed nearly $120 million in tax incentives to businesses that hire veterans. The proposal comes at a time when military operations in Afghanistan and Iraq are winding down and more veterans are entering the workforce in a difficult economy.