The latest in a series of jobs measures that will get a Senate vote offers a twist on what we’ve seen over the past several weeks. First of all, the bill is not paid for with a surtax on millionaires. Democrats have enough votes from their counterparts on that for their point to be made. Second, it attaches to a House-passed bill repealing the 3% withholding measure for government contractors, something deeply sought by the House GOP leadership. So this is more of a legislative than a political measure, a bid to actually get something done.
What are they putting this legislative muscle behind? A hiring tax credit for veterans. Or, seen another way, yet another business tax cut.
On Friday, a trio of Democrats announced that the Senate would take up a measure, probably next week, that would give companies financial incentives for hiring veterans [...]
It includes tax credits for businesses that hire veterans, including up to $5,600 for bringing on a former service member who has sought a job for more than six months. Companies can receive as much as $9,600 in tax credit for hiring a veteran disabled in the line of duty who has been looking for a job for at least six months.
The measure also expands vocational rehabilitation benefits for veterans.
The measure would be offset by keeping the current fee structure for certain veterans’ home loans. The House used a similar offset when it passed, 418-6, the veterans’ jobs legislation pushed by Miller.
House Republicans actually cited the veteran’s hiring initiative as one of the few pieces of the American Jobs Act they agreed with, back in September. And the angle is that this will be voted on right around Veterans Day.
This is a pretty small bill. The White House didn’t even assign a dollar amount to the veterans hiring initiative, but as I looked at it in September, I noted that, even if it led to 100,000 veteran jobs, it would cost $760 million. And 100,000 is a stretch. Somehow, Senate Democrats came up with a $1.6 billion price tag on this bill, however. It’s paid for by delaying fee reductions for VA loans. Which means that you may be able to get a job as a veteran, but your VA mortgage will cost some additional money.
I assume that the 3% withholding bill, which will allow government contractors to more easily cheat on their taxes, will be paired with the bill that the House used for their pay-for, a bill that fixes a “glitch” in the Affordable Care Act that would have allowed early retirees to qualify for Medicaid.
The 3% withholding bill costs the government roughly $10 billion, according to CBO. So in all, you’re talking about an $11.6 billion jobs bill, featuring two of the lesser measures of the American Jobs Act. And it’s a tax credit plus a benefit for tax cheaters, about as far from a direct hiring initiative as you can get.
Call it the “Sort-of American Jobs Act.”
In a Rose Garden ceremony today, President Obama will use an executive order to commence a new program called the Veterans Gold Card Initiative, which gives returning veterans personalized case management services for their job searches for six months. Administration officials stressed that the measure is “not a substitute for robust Congressional action.” They urged passage of the veterans hiring tax credit.



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Pathetic. And a slap in the face to non-vets who have been unemployed for untold months, now years. We get a pandering, discrminatory “jobs” bill, a bill to help tax cheats, and a shell game wrt to mortgage interest.
I think we past pathetic several months ago. Odious seems more accurate. I have worked with Vets for many years and they get the short end of the stick almost every time unless some pol needs a photo op or is running for re-election.
Even if you think it’s good, it’s bad.
“I’d like to bring you on today, but the government says you have to sit on unemployment for half a year before it becomes economically viable.”
This is more of a triage attempt since so many Vets are out of work. Otherwise the 17 people they staffed this dept with will be inundated on day one. (I might be exaggerating the staffing 17 is probably way high)
And the 1.6 Billion that Congress is allowing; even though you are right about the lower actual cost, because private contractors will jack up costs like Medicare supplemental Insurance Companies did to so called Medicare reform.
fuck man,,,,,,like dylan said:
one who talks with his tonque on fire
gargles in the rat race choir
bent out of shape by society’s pliers
CARES NOT TO COME UP ANY HIGHER
but would rather GET YOU DOWN IN THE HOLE THAT HE’S IN
So sick of this fucking bullshit ploy. Wow, a tax cut/credit to hire someone. How original. People need money to buy stuff from businesses. That increases demand, which spurs hiring. If there is no demand, then a business will not hire someone to sit at a desk and stare at the wall no matter how many credits/cuts they get. A business needs a CASH FLOW from sales in order to pay wages to an employee for doing work to fill orders.
Wake the fuck up and get real. Geez.
It’s beyond bad when you consider how many of those contractors have been found guilty of fraud and still are contracting.
http://www.boston.com/news/politics/politicalintelligence/2011/02/department_of_d.html
Seriously, we’d be better governed if we held a lottery and allowed random people to serve in the House and Senate. They couldn’t do a worse job then what we have, that’s for sure.
vets are used by politicians as photo ops. always been that way
We rely on that lottery for our justice system so you are probably right. Then the 1% would have to donate to everyone just in case they got selected, this could be that redistribution we are hoping for. If you float your idea at the next GA I’ll second it.
Mebbe a ‘Sort-of-Pretend-Patriotic Jobs Act’.
Dear Senate Democrats, my honest regard…for disregarding me.
Non, Mis and Malfeasance.
Buggers.
One of the elements of this president’s team that I do not understand is the continued promotion of tax credits. These will become the “loopholes” that we will be fighting in the future. Every tax scheme is done for some reason – publicly promoted as a good idea. Then we get surprised when companies actually use them to reduce their tax bill. You cannot have it both ways.
Anybody have any speculation as to the circumstances that will eventually necessitate the “Platinum Card” level of VA care?
Yet more Obama half-stepping. The bare minimum to chip away at his left-side opposition.
“What do we do, as democrats, to get this legislation through? Wait! I know, let’s cut it’s throat and watch it bleed to death on the floor!”