Obama Outlines Plan To Spur Hiring Of Veterans
President Obama outlined his plan to help veterans find jobs Friday, calling for better training for demobilized soldiers and tax credits for employers who hire them. In June, there were 1 million unemployed veterans in America, and the jobless rate for post-Sept. 11 veterans stood at 13.3 percent — about four points higher than the national average.
Ari Shapiro filed this report for Newscast:
The president has asked the Defense Department and Veterans Affairs to set up a "reverse boot camp" for servicemen and women to transition out of the military.
"We'll devote more time on the back end to help our veterans learn about everything from benefits to how they can translate their military training into an industry-accepted credential," Obama said.
Obama is challenging the private sector to hire or train 100,000 veterans or their spouses by the end of 2013.
By 2016, more than 1 million more military personnel are scheduled to make the transition to the U.S. job market.
The president's two proposed tax incentives would require passage by Congress.
One calls for a two-year extension of the "Wounded Warriors" tax credit, which covers the hiring of soldiers with disabilities related to their service.
The other would create a new "Returning Heroes" credit, which would establish a $4,800 credit for a company hiring an unemployed veteran for a long-term position.