The U.S. House of Representatives passed (422-0) and sent to President Barack Obama legislation to repeal a requirement that federal, state and local governments begin withholding 3 percent of payments to contractors in 2013. The legislation also includes tax credits for companies that hire unemployed veterans.
Last week, 0 signed the bill, but not only were contractors for it, so were county governments.
"This is a big win for local governments. The costs to comply would have been enormous," NACo Executive Director Larry Naake said. "It would have required our nation's larger counties to reprogram or purchase new accounts payable systems, hire additional staff and essentially turn county accounting offices into IRS district offices."The VOW to Hire Heroes Act amendment would provide up to $9,600 in tax credits to businesses who hire unemployed veterans with a service-connected disability who have been actively searching for employment for at least six months. It also strengthens employment counseling and training programs for veterans and troops about to leave the military.
Wonder how it's paid for?
The tax credits are offset by an extension of current fees on Veterans Affairs home loans and a reduction of payments to some VA service providers.
In conjunction, the Obama administration has announced plans to set up an online jobs bank for veterans seeking employment, and will provide access to six months of personalized case management and employment counseling for unemployed veterans.