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Increased tax credits for businesses hiring unemployed veterans.

This act temporarily increases tax credits for businesses that hire unemployed veterans. This aims to encourage employers to offer jobs to individuals who have served in the military and are struggling to find employment. The changes apply to the 2021 tax year.
Key points
Businesses hiring unemployed veterans can receive larger tax credits in 2021.
The maximum tax credit for hiring a veteran increases from $6,000 to $12,000.
The maximum credit for hiring a long-term unemployed veteran increases from $14,000 to $28,000.
The goal is to support veterans in re-entering the workforce.
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Additional Information
Veteran Employment Recovery Act
Print number: HR 3582
Sponsor: Rep. Fallon, Pat [R-TX-4]
Process start date: 2021-05-28