From a Rep. Nick Rahall Release

WASHINGTON, DC – Continuing his efforts to support our Nation’s military and small businesses, U.S. Rep. Nick J. Rahall (D-WV) Wednesday helped to pass legislation that would provide tax incentives for businesses that hire unemployed veterans and veterans with service-connected disabilities and to repeal an onerous regulatory rule on small businesses.

“When West Virginians sign up to serve their country, they should not have to give up their shot at the American Dream,” said Rahall, who is a member of the House Military Veterans Caucus and a cosponsor of H.R. 674, the Putting Veterans to Work Act.  “With an alarmingly high unemployment rate for our veterans returning from Iraq and Afghanistan, our Nation has a responsibility to see that our returning service men and women have the tools and skills they need to transition back into civilian life. Certainly, we can do more to help our returning veterans and this measure will go a long way in helping many of them to find their way in today’s economy.”

 H.R. 674 provides businesses with a tax credit of up to $5,600 for hiring veterans who have been looking for a job for more than six months; a $2,400 credit for hiring veterans who are unemployed for more than 4 weeks, but less than 6 months; and $9,600 for hiring veterans with service-connected disabilities who have been looking for a job for more than six months. The legislation also provides job training and career counseling for service-members transitioning to civilian life through the Makes the Transition Assistance Program (TAP), an interagency workshop coordinated by Departments of Defense, Labor, and Veterans Affairs.

Rahall has been active and vocal in supporting military members and veterans returning to civilian life.  He is a cosponsor of the Hiring Heroes Act and sponsored a veterans’ job fair in July in Beckley.

H.R. 674 also repeals a rule passed in 2006 requiring federal, state, and local government agencies to withhold three percent of payments to government vendors in order to ensure payment of tax liabilities.  The provision was supposed to go into effect later this year, but was delayed by the IRS because of widespread concerns about adversely disrupting small business cash flows, hurting cash-strapped employers and driving up procurement costs.

 “There is a lot of uncertainty hanging over the business community, and to the extent that we can minimize tax and regulatory burdens, we should endeavor to do all that we sensibly can to help small businesses create jobs,” said Rahall.

Rahall has cosponsored and supported several initiatives to help reduce unfair and excessive regulatory burdens that are negatively affecting our nation’s economy and threatening jobs, cosponsoring legislation to repeal onerous IRS reporting requirements on small businesses and increasing Congressional oversight of regulatory actions related to energy and the environment.

The House passed the legislation by a unanimous vote, and will be sent to the President to be signed into law.