US Senate approves jobs bill for returning vets | Business

ALBANY, N.Y. (AP) - The U.S. Senate has passed legislation meant to address the high unemployment rate among returning veterans.

New York Sen. Charles Schumer, a cosponsor, says the unemployment rate for veterans returning from Iraq and Afghanistan hovers near 15 percent in some counties.

The bill, approved 94-1, would provide tax credits for employers hiring veterans, as well as job training to help vets return to the work force.

The Hire Heroes Act would provide companies that hire a vet who has been looking for work for at least four weeks to get a tax credit of $2,400.

Businesses that hire a vet who has been looking for a job for at least six months would get a $5,600 tax credit.
      

      
(Copyright 2011 by The Associated Press.  All Rights Reserved.)