President Obama's jobs package has finally made it out of Congress. It sailed through the Senate last week, and was passed unanimously in the Hose yesterday, 422 - 0. The Bill gives a tax credit of up to $5,600 to hire a vet who has been out of work for more than six months. It expands retraining programs for vets. Finally, it repeals a 3% withholding requirement on contractor pay.
“Providing tax credits to businesses that hire unemployed veterans and expanding veterans retraining opportunities will help many of the nation’s 1 million unemployed vets get back to work or begin new careers as civilians,” said LV Congressman Charlie Dent. “I am confident repealing the 3 percent withholding rule will also encourage job growth throughout the nation by allowing job creators to better invest in their growth and development.”
“I am hopeful the overwhelming bipartisan support this legislation received serves as another indication that both parties in Congress can come together to advance policies that will accelerate our economic recovery,” said Congressman Dent.