Tax credits for hiring vets extended
NORWICH – The Returning Heroes and Wounded Warrior Tax Credit, which was set to expire at the beginning of the new year, has been extended as part of the year-end fiscal cliff deal. The measure has been extended for a year, allowing Chenango County employers who hire an unemployed or wounded veteran up to $9,600 in tax credits.
Over the past few years, the percentage of unemployed veterans nationwide has far outstripped the percentage of unemployed nonveterans. But, since 2011, when President Obama first signed The Returning Heroes and Wounded Warrior Tax Credits into law, the gap has narrowed. While a disparity still exists, New York State politicians believe the tax credits will go along way towards aiding veterans in search of work.
“There are far too many veterans in New York and across the country without jobs, and these tax credits for businesses to hire veterans are a proven remedy in addressing that unfortunate truth,” said U.S. Senator Charles E. Schumer in a recent press release.
Many businesses in Chenango County have shown a preference towards hiring veterans, including Frontier Communications, which scopes out veterans during its own vetting process of prospective employees. Tuesday, CEOs of another large employer in the area announced a commitment to hire more veterans.
Wal-Mart U.S. is set to announce an initiative to hire any veteran who applies for a job at one of the corporation’s branches, provided the veteran left the service within the past year and was not dishonorably discharged, as first reported in The New York Times. Wal-Mart’s commitment will include its supercenter in Norwich and officially begins May 27, and will last for five years.
Over the past few years, the percentage of unemployed veterans nationwide has far outstripped the percentage of unemployed nonveterans. But, since 2011, when President Obama first signed The Returning Heroes and Wounded Warrior Tax Credits into law, the gap has narrowed. While a disparity still exists, New York State politicians believe the tax credits will go along way towards aiding veterans in search of work.
“There are far too many veterans in New York and across the country without jobs, and these tax credits for businesses to hire veterans are a proven remedy in addressing that unfortunate truth,” said U.S. Senator Charles E. Schumer in a recent press release.
Many businesses in Chenango County have shown a preference towards hiring veterans, including Frontier Communications, which scopes out veterans during its own vetting process of prospective employees. Tuesday, CEOs of another large employer in the area announced a commitment to hire more veterans.
Wal-Mart U.S. is set to announce an initiative to hire any veteran who applies for a job at one of the corporation’s branches, provided the veteran left the service within the past year and was not dishonorably discharged, as first reported in The New York Times. Wal-Mart’s commitment will include its supercenter in Norwich and officially begins May 27, and will last for five years.
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