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Aug 5, 2011 12:46 AM by Matt Stafford

AP sources: Obama wants aid for unemployed vets

WASHINGTON (AP) - President Barack Obama is calling on Congress to pass a series of tax credits for companies that hire unemployed military veterans.

Administration officials say Obama will announce the "Returning Heroes" and "Wounded Warriors" tax credits on Friday in Washington. The president's proposal would give companies that hire an unemployed veteran a $2,400 tax credit. Companies that hire an unemployed veteran with a service-related disability would receive a $4,800 tax credit and a $9,600 credit if the veteran has been unemployed for more than six months.

The administration says there are more than 1 million unemployed veterans in the U.S. One-fourth of those joined the military after the Sept. 11 attacks.

The officials would speak only on condition of anonymity ahead of Obama's announcement.

 

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